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Economics Class - XI

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Sample Papers : Economics 1
email: [email protected]: www.vishvbook.com, [email protected]
1 SAMPLE PAPER Unsolved

Time: 3 hours M.M.: 80

General Instructions

1. Question No. 1–4 and 13–16 are very short answer questions carrying 1 mark each. They are required to
be answered in one sentence.
2. Question No. 5–6 and 17–18 are short answer questions carrying 3 marks each. Answers to them should
not normally exceed 60 words each.
3. Question No. 7–9 and 19–21 are also short answer questions carrying 4 marks each. Answers to them
should not normally exceed 70 words each.
4. Question No. 10–12 and 22–24 are long answer questions carrying 6 marks each. Answers to them should
not normally exceed 100 words each.
5. Answers should be brief and to the point and the above word limit be adhered to as far as possible.

PART–A
1. A producer borrows money to run a business but manages the business himself. Identify implicit cost. 1

2. ‘A few big sellers’ is a characteristics of: 1

(a) Perfect competition (b) Monopolistic competition

(c) Oligopoly (d) None of the above
3. Price of good and its Supply have: 1

(a) Negative Relationship (b) Inverse Relationship

(c) No Relationship (d) Positive Relationship
4. Slope of Total Revenue is: 1

(a) Average Revenue (b) Marginal Revenue

(c) Can’t Determine (d) None of the above
5. Price elasticity of demand for the two goods X and Y are zero and (–) 1 respectively. Which of the two is more
elastic and why? 3

6. Explain the meaning of ‘minimum’ price ceiling and its implications. 3

OR
Explain the chain of effects of ‘increase’ in demand of a good.
7. Explain the concepts of Opportunity Cost and Marginal Rate of Transformation using a production possibility
schedule based on the assumption that no resource is equally efficient in production of all goods. 4

8. What type of production function is this in which only one input is increased and others kept constant? State
the behaviour of total physical product in this production function. 4

OR
Define cost. State the behaviour of (a) Total Fixed Cost and (b) Total Variable Cost as output is increased.
9. Explain the effect of change in income of a consumer on demand of a good. 4

10. Explain the difference between “Shift of Supply Curve” and “Movement along Supply Curve”. State one factor
responsible for each. Use diagrams. 6

11. A consumer consumes only two commodities X and Y. Explain the conditions of consumer’s equilibrium using
Marginal Utility Analysis. 6
12. Explain the implications of the following: 6

(a) Product differentiation in monopolistic competition.

(b) Perfect knowledge in perfect competition.

2 Quick Score Sample Papers : Economics

 OR
Explain the implications of the following:
(a) Interdependence between firms in oligopoly.
(b) Large number of sellers in perfect competition.
PART–B
13. Draw a scatter diagram showing high degree of positive correlation. 1
14. Show the empirical relationship between mean, mode and median. 1
OR
Arithmetic mean of a series is 15 and if 5 is added in all the items of this series, the new arithmetic mean will
(a) 5
(b) 20.
(c) 18
(d) 10
15. Name an important government agency which collects, process and tabulate data at national level 1

16. In plural sense, which of the following is not a characteristic of Statistics? 1

(a) Aggregate of data

(b) Only expressed in words
(c) Affected by multiplicity of causes
(d) Collected in a systematic manner
17. Discuss the essential of a good table. 3

OR
Make a format of table presenting all its parts.
18. State four demerits of mode. 3

19. Explain the features of statistics in the singular sense. 4

OR
What do you mean by Census Method? What are its merits and demerits?
20. The arithmetic mean of series of 40 items was calculated by a student as Rs.265. But while calculating it an item
Rs.115 was misread as Rs.150. Find the correct arithmetic mean. 4

OR
The mean age of a combined group of men and women is 30.5 years. If the mean age of the group of men is 35 and
that of the group of women is 25, find out the percentage of men and women in the group.
21. Discuss the limitations of index numbers. 4

22. Following are the heights and weights of 10 students of a class: 6

Height (Inches) 60 68 64 62 68 69 70 72 65 61
Weight (kg) 50 48 56 65 49 52 57 60 59 47

Calculate the coefficient of correlation by Karl Pearson’s Methodborrowing be recorded? Give reason.
23. Draw a ‘less than’ ogive and ‘more than’ ogive curves for the following frequency distribution 6

Marks 0-10 10-20 20-30 30-40 40-50 50-60

No. Of students 3 4 8 10 3 2
OR

Quick Score Sample Papers : Economics 3

 Represent the data relating to the cost of production in a factory by means of percentage diagram.
Element of cost Items
(in ‘000) A B C
Raw materials 75 55 60
Wages 45 30 25
Factory overheads 15 10 30
Office overheads 5 15 5

24. Construct an index number for the year 2013, taking 2004 as base year by using (any one method)
1) Aggregative Expenditure Method,
2) Cost of living Index 6

Items Quantity Price Quantity Price

(Base year) (Base year) (Current year) (Current year)
A 10 5 12 4
B 6 8 7 7
C 3 6 4 5

4 Quick Score Sample Papers : Economics

 2 SAMPLE PAPER Unsolved

Time: 3 hours M.M.: 80

General Instructions

1. Question No. 1–4 and 13–16 are very short answer questions carrying 1 mark each. They are required to
be answered in one sentence.
2. Question No. 5–6 and 17–18 are short answer questions carrying 3 marks each. Answers to them should
not normally exceed 60 words each.
3. Question No. 7–9 and 19–21 are also short answer questions carrying 4 marks each. Answers to them
should not normally exceed 70 words each.
4. Question No. 10–12 and 22–24 are long answer questions carrying 6 marks each. Answers to them should
not normally exceed 100 words each.
5. Answers should be brief and to the point and the above word limit be adhered to as far as possible.

PART–A
1. Give the meaning of utility. 1

2. Give two examples of implicit costs. 1

3. When is supply of a good said to be price inelastic? 1

4. Why does average fixed cost fall with increase in output? 1

5. A and B are substitute goods. Explain the effect of rise in price of A on the demand for B. 3

OR
Explain any two causes of “increase” in demand.
6. The quantity demanded of a good is 1500 units at the price of `10 per unit. Its price elasticity of a demand is (–)
1.5. Calculate its quantity demanded, when its price falls to `9 per unit. 3

7. Why does the problem of ‘what to produce’ arise? Explain. 4

8. Explain any two causes of a rightward shift in supply curve. 4

9. Explain the implication of ‘freedom of entry and exit to the firms’ under perfect competition.
OR
Explain the implication of ‘perfect knowledge about market’ under perfect competition. 4
10. Explain the consumer’s equilibrium with the help of indifference curve analysis.
OR
A consumer consumes only two goods. Explain consumer’s equilibrium with the help of utility analysis. 6

11. Explain the conditions of producer’s equilibrium with the help of a numerical example. Use marginal cost and
marginal revenue approach. 6

12. Explain the meaning of excess supply of a commodity and its chain of effects on price, demand and supply of
the commodity. (use diagram) 6

PART–B
13. Who is a Service holder? 1

14. What do you mean by enumerators? 1

15. What do you understand by the term ‘array’? 1

OR

Quick Score Sample Papers : Economics 5

 Which graphical method is used to measure dispersion?
16. What do you mean by stub? 1

17. Write a short note on inflation and index Numbers. 3

OR
Explain the limitations of statistics.
18. Mark the following statements as true or false. 3

(i) Statistics can only deal with quantitative data.

(ii) Statistics solves economic problems.
(iii) Statistics is of no use to Economics without data.
19. Explain the features of statistics in the plural sense.
OR
What do you mean by Sample Method? What are its merits and demerits? 4

20. Represent the following data with help of pie diagram. 4

Item Rent Food Clothing Tranporaton Recreation Saving Saving Other

Expenditure 20% 25% 22% 15% 8% 6% 4%
(In percent)

21. Calculate mean deviation and its coefficient from mean from the following data: 4

Mark 0-10 10-20 20-30 30-40 40-50

No. of Students 6 12 15 11 3
OR
Calculate mean deviation and its coefficient from median from the following data:
Mark 0-10 10-20 20-30 30-40 40-50
No. of Students 5 8 3 20 4

22. Construct index numbers of prices from the data given below by applying:
1. Laspeyre’s Formula
2. Paasche’s Formula
3. Fisher’s Formula 6

Commodities Base year Base year Current year Current year

Price Quantity Price Quantity
A 2 40 3 20
B 1 30 2.5 40
C 1.5 50 1.5 30
D 2.5 20 2 80

OR
Calculate the index number for 2017 with 2007 as base using the weighted average of price relative method for
the following data:

Commodities Quantity in 2007 Price 2007 Price 2017

(in Units)
A 2 12 24
B 8 8 12
C 15 15 27
D 6 6 18
E 10 10 12

6 Quick Score Sample Papers : Economics

23. Following are the marks obtained by two students: Anna and Bella, in 10 sets of examinations: 6

Marks of obtained 44 80 76 48 52 72 68 56 60 54
by Anna
Marks of obtained 48 75 54 60 63 69 72 51 57 66
by Bella
Out of Anna and Bella, who is more consistent?
24. Calculate the coefficient of rank correlation from the following data: 6

X 48 33 40 9 16 16 65 24 16 57
Y 13 13 24 6 15 4 20 9 6 19

Quick Score Sample Papers : Economics 7

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