Self Assessment Pap er-2

Economics (030)
Class • XI, Session: 2023-24
[UNSOLVED]
'fi)ne Allowed : 3 hours Maximum Mara : 80

General Instructions:
(1) 1. This question paper contains two sections:
Set!ion A - Stat~tics for Eco~omics . Section B- Introductory Micro Economics
(2) Th~ paper conta~ns 20 Multiple Choice Qu_estions type questums of 1 mark each. .
4
(3) Th~ paper conta~ns Short Answer Questions type questions of 3 marks each to be answered in 60 to 80 words.
(4) Th~ paper conta~ns 6 Short Answer Questions type questions of 4 marks each to be answered in 80 to 100 words.
(5) This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered in 100 to 150 words.

l!iM,lii~bJ
Section - A
1. Read the following Statements and choose the correct alternative: [l1
Statement- I: Housewife working in the house is termed as non-economic activity.
Statement- II: An economic activity is concerned with creation of money/wealth.
Alternatives:
(A) Statement 1 is true and Statement 2 is false.
(B) Statement 1 is false and Statement 2 is true.
(Q Both Statements 1 and 2 are true.
(D) Both Statements 1 and 2 are false.
2. Material welfare oriented definition of economics was given by: [11
(A) Adam Smith (B) Robinson (C) Marshall (D) None of these
3. *Statistics is the science of average". Whose statement is this? [1)
(A) Bowley (B) Secrist (C) Alligman (D) Fisher
4. Identify the correct pair of terms with their formula from the following Columns I and II: [1]

Column I Column II

Size
A Mean 1. -
N

Class
B. Median 2.
frequency

3. f2 -f1
C. Mode
L + 2f1 - fo - f2

D. Mid Value 4. L1 +L2

L1 -L2

(A) A-1 (B) B-2 (C) C-3 (D) D-4

4£) •
OSWAAL CBSE Sample Question ptiinP1 "!1 BCOKOIIICS, Class..~
ar-·- • ~

S. Identify the following diagram and choose the correct altern

ativ:· . [1]
. --- - -- --
Profits on y-axis

~90
a so 1;:.- -+--+ ---J= --+-- --1r- .
+'
tg 70E :---l -~~- l-~b -'--t- -"1
it 601 ;:_~ -+-~ -+-- -t--- i

5 0 ~
2006 2007 2008 2009 2010 2011
Year

(A) Tune series graph (B) Frequency polygon (C) Ogive (D) Histogram
6. The algebraic sum of deviation of a set of n values from
AM is:
(A) n (B) 0 (Q 1 (D) 00
7. Coefficient of Correlation:
(A) Can never be negative (l]
(B) Can never be positive
(C) May be positive or negative (D) Always positive
8. Which of the following is incorrect regarding median? Choo
se the correct alternatives: ll]
I. •Easy to calculate and simple to understand.
II. Full of algebraic treatment
m. In order of magnitude, it divides the distribution into several parts.
IV. It is an important measure of central tendency.
Altematives:-
(A) I and Il (B) Il and ID (C) I, II and
9. Read the following Assertion (A) and Reason (R) and choose the correcID (D) I, ill and IV
t alternative: [1]
Assertion (A): False Base Line is that portion of the scale which
lies between zero and the smallest value of the
variable is omitted.
Reason (R): One important nile in drawing the graph is that
the vertical axis must start from zero.
Alternatives:
(A) Both Assertion (A) and Reason (R) are true, and Reason
(R) is the correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are true, but Reason (R)
is not the correct explanation of Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Assertion (A) is false, but Reason (R) is true.
10. Which of the following statements is true about the significance
of Economics: [1]
(A) Economics helps in the study of the laws of motion.
(B) Economics helps in the study of man and environmen
t.
(q Economics helps in solving the problem of distrib
ution.
(D) Economics helps in saving the mankind.
11. "Economics is a science''.
Do you agree with the given statement? Give valid reason (3]
in support of your answer.
12. Calculate the correlation coefficient between Xand Y and comm
ent on their relationship. (3]

I: I: I: I: I: I: I: I: OR
72
71
The mean of 200 items was 50. Later it was discovered that
two items were misread as 92 and 8 instead of 192
and 88. Find the correct mean.
13. Percentage distribution of export of India is given below. Const
ruct a pie diagram using this data: [4]
Commodity . Group Export (in %)
Agriculture 17.3
Minerals 2.6
Manufactured goods 77.8
Petroleum products 0.3
Others 2.0
 le Ques tion Pape rs
5eJllP

_. 4. (a) Find out the Median of th d given

.
below by arrangm . order: (4]
> - e ata • g themina scending
'
~
X Frequency ~

160 5
150 8
152 6
161 3
156 7

OR . . •
(b) How does the procedure of dr . . al m comp anson to
awing a histogram differ when class interv als are unequ
equal class intervals m· fr
a equency table? .
15 The average marksout of 200 stud • ating it, the marks of a student were wntte n 53
• mstead of 73. Find th ents ma _class are 54. But while calcul [4] l!l!J
e corrected anthmetic mean [3] •
16 (a) Calculate Mean and Mode from the following da~-.
Marb Below20 Below60 Below BO Below100
- Below40
Number of Students 8 50 70 80
20
[3]
(b) Write four objectives of statistical average.
OR
(a) Define Statistics and discuss its limitations?
of 20 and 10. Find the combined mean of two
(b) T~o. dis!1ibutions with 100 and 200 items have a mean
distributions.
ing data: [3]
17. (a) Calculate Karl Pearson's Coefficient of Correlation from the follow
""
X :; 20 11 72 65 43 29 50

y 60 63 26 35 43 51 37
[3]
(b) Write three demerits of Arithmetic Mean
SECTION- B
ns I and II: [1]
18. Identify the correct pair of items from the follo ~g
Colum

Colamul
with
A. Total Product 1. Total input produced by a firm during a given period of time
given number of outpu ts.
with
B. Total Physical 2. Total output produced by a firm during a given period of time
Product given number of inputs.
(or
C. Average Product 3. The change in Total Product resulting from the use of one more
consta nt.
one less) unit of the variable input, keeping all other inputs

D. Marginal Product 4. . Output per unit of a variable input.

Alternatives: (D) D - 4
(B) B - 2 (C) C - 3
(A) A -1 [1]
and MP also increases.
19. Identify the phase in which TP increases at an increasing rate
(A) Increasing returns to a factor (B) Diminishing returns to a factor
(C) Negative return s to a factor (D) None of these
m of an econo my: [1]
20. Which of the following is not a central proble
(A) What to produce (B) How to produce
(C) Where to produce (D) For whom to produce
46 I
OSWAAL CBSE Sample Question Papers, BC01'0111C8, Claas.l<l""""

21. Study the following curve and answer the given ql!~tio~: (l)
- --- ---

QJ
u
~
Q 1
Unit of Quantity Demanded

What does the above curve represent? C · • •

(A) Increase in demand (B)· Decrease in demand (C) Extension in dem~d (D) ontraction m_ detnanct
22. Read the statements Assertion (A) and Reason (R) and choose the correct alternative: [l]
Assertion (A): When 5 units of a good are sold at '20, total revenue is noo.
Reason (R): Total revenue is the revenue earned by the firm from the total amount of product sold by it
Alternatives:
(A Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct explanatio~ of Assertion (A).
(B) Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
(C) Assertion (A) is true but Reason (R) is false.
(D) Assertion (A) is false but Reason (R) is true.
23. Identify the two cost curves which start from the same point on the Y-axis. [1]
A) TVC and TFC (B) TFC and TVC (C) TFC and TC (D) TFC and AFC
24. 'Normative economics passes value judgment regarding what is right or wrong." [1]
Alternatives:
(A) True (B) Partly True (C) False (D) Can't be predicted
25. Market demand curve is obtained by _ _ summation of the individual demand curves. [1)
(A) Vertical (B) Horizontal (C) Both (A) and (B) (D) None of these
26. There are two statements given below, marked as Statement (I) and Statement (II). Read the statements and choose
the correct option: [1)
Statement - I : Production Possibility Curve shows different possible combinations of two goods.
Statement - II : PPC curve is based on assumption that resources are limited and constant during production.
Alternatives:
(A) Statement I is true and Statement II is false. (B) Statement I is false and Statement II is true
(Q Both statements I and II are true (D) Both statements I and II are false
ATC
27. We can get .......... through AQ [1]

(A)TFC (B) TVC (C) MC • , (D) AC

28. Explain any three characteristics of a perfectly competitive market? [3]
OR
Market for a good is in equilibrium. Oemand for the good 'Increases'. Explain the chain of effects of this change.
29. Explain the meaning and need for 'price ceiling'. [3]
30. As a result of 10% rise in price of commodity X, its demand falls from 200 units to 190 units. Calculate its price
elasticity of demand. , [4]
31. Calculate average variable cost at each level of output: [4)
Output (Units) . Marginal Cost(') l,l

1 15
2 12
-.
3 9
4 14
5 21
6 31
. s,rnple Questio n Papers 47

Explain any three factors that determine su OR .

Observe the given diagr d pply of a commodity. [4]
32• am an answer the question.
I y
I Price
P1r---~-~
P2 i----,,.:..._ i___;~

goods and service tax

It is exp~cte~ that replacement of all existing taxes on good X by the proposed single
chain of effects on price and
(GSn _will bnng down overall tax on good X substantially. Explain its likely
quantity of good X.
[3+3=6 ]
33. (a) Explain the characteristics of Indifference Curves.
implicit cost and explicit cost
(b) An indi~~u al is both the owner and the manager of shop taken on rent. Identify
from this information. Explain.
OR
(a) Why do central problems of an economy arise?
(b) Explain the central problem of 'for whom to produce"
·
34. Read the passage given below and answer the questions that are followed:
vertical axis (total revenue)
1"!1~slope of a total reve~ue curve is particularly important. It
)
equals
between any
the
two
change
points.
in the
The slope measure s the ~teat
di~ded by the chan~e m the horizontal axis (quantity ~ted
s. We can think of it as the increase in total reve~u~
w~ch total ~~enue m~ase s as output increase in quantity marginal
with a 1-urut mcrease m output. The increase in total revenue from a 1-unit increase
1S

revenue. Thus marginal revenue (MR) equals the slope of the total revenue curve.
of radishes? The ~w~r,
How mu~ additional revenue does a radish producer gain from selling one more pound the market pnce ~
market price. Because
of course, 1S the market price for 1 pound. Marginal revenue equals the produci ng one more urut
l revenue the firm gains by
not affected by the output choice of a single firm, the margina l revenue and
l revenue curve shows the relations hip between margina
is always the market price. The margina is a horizon tal line at
curve
the quantity a firm produces. For a perfectly competitive firm, the marginal revenue is $0.40. Marginal
margina l revenue
the market price. If the market price of a pound of radishes is $0.40, then the l revenue curve is a
competi tion, a firm's margina
revenue curves for prices of $0.20, $0.40, and $0.60. In perfect
horizontal line at the market price.
average revenue (AR), we
Price also equals average revenue, which is total revenue divided by quantity. To obtain (Q), dividing by quantit y
divide total revenue by quantity, Q. Because total revenue equals price (P) times quantity
leaves us with price.
On the basis of the given text and common understanding, answer the followin
g questions:
[2]
(a) What change should take place in total revenue when :
(i) Marginal revenue is positive and constant, and
(ii) Marginal revenue is falling. •
[4]
(b) What is the relationship between:
(i) Marginal Revenue and Average Revenue
(ii) Total Revenue and Marginal Revenue
I

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