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ICSE Class 10 Economics Sample Question Paper - 1

Last updated date: 19th Jun 2024
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Economics Mock Paper-1 for ICSE Class 10 Board Exams Free PDF download

Economics is one of the most interesting of all subjects. However, for a student of ICSE Class 10, it may appear to be slightly difficult. The questions that come in the examination are strictly concept-based and hence, require a strong understanding of the subject. Vedantu’s ICSE economics sample papers for Class 10 help in this regard and make the subject look less scary. It contains questions of the previous years and at the same time, questions that didn’t come earlier but are important nevertheless. Solving economics sample paper Class 10 ICSE instills confidence in students and helps them cover the entire syllabus in a comprehensive manner.

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Introduction to Economics

As a part of the Social Studies group, Economics has a special place as the most conceptualized yet a very engrossing subject which can keep a student hooked till the end. Because there are several theories to study, for students of std 10, it might be difficult and challenging unless you are good at understanding and hence there are basically four levels of academic performances that students need to demonstrate to achieve success: Knowledge, Comprehension, Application and Analysis. As a social science, Economics attempts to explain the  behavior of humans, groups and organizations and the interaction among the three. Unlike other social science subjects, economics is heavily based on math and statistics. In fact, at the college level, most students are required to complete several upper-level math and statistics courses as prerequisites to majoring in Economics.

The basics of Economics take the student a long way ahead if he/she is extremely strong in mastering the concepts. In Class 10 Economics, students will learn the process of development in the Indian Economy in terms of the emergence of agriculture, manufacturing and services as the three wheels or distinct sectors of the economy. There are a total of thirteen chapters which have been reduced as per the latest syllabus for ICSE 2024-25 board exams. The chapters are:

  • Theory of Supply.

  • Factors of Production.

  • Inflation.

  • Elasticity of Demand.

  • Elementary Theory of Demand.

  • Public Debt.

  • Public Expenditure.

  • Meaning and Functions of Money.

  • Meaning and scope of Public Finance.

  • Commercial Banks.

  • Consumer Awareness.

  • Banking.

  • Central Banking.

FAQs on ICSE Class 10 Economics Sample Question Paper - 1

1. What is the Role of Internal Assessment in Economics?

Internal assessment plays a very vital role in Economics. It carries 20 marks in the main exam which will play a decisive role in scoring good marks.

2. What are the Basic Features of Chapter Banking in India?

The chapter Banking in India contains different segments namely Money, Commercial banks, Central Bank, Public Finance, etc.

3. What are the basics covered in Economics Class 10?

Economics is the study of how individuals, businesses, governments and other organizations within the country interact with one another and choose to use scarce resources to satisfy their numerous needs and wants in a manner that is efficient, equitable and sustainable. These interactions also affect the demand and supply of products and the use of cost and revenue analysis to explain prices and production levels. The dynamics of markets are explored as well as economic events and the forecast of their consequences and predictions of their future outcomes.

4. What questions are asked in the ICSE Std 10 Economics board exam?

As stated above, most questions test a student’s knowledge of concept, comprehension capacity, analysis power and idea of application of concept across cases. Experts always advise students to make their basics strong and to clear doubts at the same time because the basics will be the savior for learning the topics in the advanced level. The questions are mainly concept based so solving previous years’ questions are very helpful.

5. What are the strategies one should follow while studying Class 10 Economics?

Economics can be demanding and challenging for students in the initial stages and all chapters are linked to one another, it would be advisable for students to spend time, dedication and efforts toward studying the subject. Firstly, read the chapter for understanding. Start making short notes for crisp revisions ahead of the exam. Study the examples and go through previous years’ question papers to know the pattern and type of questions. Experts at Vedantu have prepared mock papers for students to help them build their foundation on the subject and score well in the test.

6. How important is Math in the Economics subject in Class 10?

Students who love Economics have to be aware about Math and Statistics being an integral part of the subject. Almost all the chapters have graphs which can be drawn only through correct use of formulas dedicated to Economics. Be it the marginal utility curve or elasticity of demand curve, every graph involves small calculations of Math, especially commercial Math meant for Commerce and Economics. So students have to know the basics of certain concepts of Math in order to solve such questions in Economics.

7. Are NCERTs enough to study for Std 10th Economics?

ICSE has now started recommending NCERTs for better understanding of chapters. NCERTs are known for their usefulness and have often been praised by top academicians for their thorough analysis of concepts through excellent examples and critical question banks after every chapter. Because NCERTs cover the basics and the fundamentals of topics, students feel at ease and hence do not find it necessary to search for too many resources. Vedantu has been able to curate study materials and crisp notes (tips and tricks) for studying Economics which can be downloaded in PDF format for free.