IN ICSE Economics Class 9 there is one paper of two hours duration carrying 80 marks and Internal Assessment of 20 marks. The paper is divided into two sections: A and B.
Section A consists of compulsory questions requiring short answers and covers the entire syllabus. Section B consists of questions, which demand elaborate answers. There is a choice and students are expected to answer 4 questions from this section.
1. Understanding an Economy
(i) Meaning and definition of Economics; Concepts of Economics: Wealth, Welfare, Capital, Factors of production, Utility, Government, Household, Firm, Value, Price, Production, Consumption, Micro and Macro Economics.
A basic understanding of economic problems. Definitions of economics - Marshall, Robbins, Samuelson. An understanding of the following concepts: wealth, capital, value, price, utility, production, consumption, factors of production, micro and macroeconomics.
(ii) Fundamental problems of an economy: What to provide? How to produce? For whom to produce? Efficient use of resources; economic growth. The concept of production possibility curve.
A brief intro to the primary problems of an economy - what to produce? how to produce? For whom to produce? Needs to be emphasized, irrespective of types of economy. A description of how economics as a subject helps us to allot scarce resources in an effective manner to be given. The concept of economic growth to be explained through the production possibility curve.
(iii) Types of Economies: Capitalistic, Socialistic, Combined, Matured and Maturing economy. Characteristics of the Indian economy.
A fundamental understanding of the features of capitalistic, socialistic and mixed economies is expected. The definition and division of economies into emerging and mature is to be explained. In this context, the features of the Indian economy must be explained.
2. Role of Public Distribution System:
What is food security? Who are food insecure people? Efforts of the Government in resolving food problem - Public Distribution System, buffer stock - the role of Co-operative societies in Public Distribution System.
Definition of Food security, causes of Food shortage, resolutions for food shortage by Government and Co-operatives (Role of Food Corporation of India, minimum support price, issue price, buffer stock, PDS, RPDS and TPDS - a brief introduction only). Critical appraisal of the Public Distribution System.
Role of co-operatives in the Food Distribution System to be explained with examples.

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