Answer key for Economics board exam - (i) (d) Interest (ii) (d) Apple iPhones and Samsung Smart Phones (iii) (a) Both (A) and (R) are true and (R) is the correct explanation of (A) (iv) (d) Expansion of demand (v) (b) Proportional (vi) (b) Entrepreneur (vii) (d) Statement 1 is false and Statement 2 is true (viii) (b) Bureau of Indian Standards (ix) (a) Positive (x) (c) Monopsony (xi) (b) False (xii) (a) Capital formation (xiii) (b) Inelastic (xiv) (c) Administrative (xv) (a) Specialization (xvi) (b) unproductive By ICSE Champs