SHAIL PUBLIC SCHOOL

annual Examination (2022-23)

CLASS – 11th
SUBJECT:- economics
//TIME: 3 HRS. MM:
70
General Instructions -
1. This question
paper contains
two sections:
Section A –
Statistics for
Economics
Section B –
Introductory
Microeconomics
2. Q.1 to 10 and Q.18 to 27 Multiple Choice Questions of 1 marks each.
1. Q.11 to 12 and Q.28 to 29 Short Answer Questions of 3 marks each to be
answered in 60 to 80 words.
3. Q.13 to 15 and Q.30 to 32 Short Answer Questions of 4 marks each to be
answered in 80 to 100 words.
4. Q.16 to 17 and Q.33 to 34 Long Answer Questions type of 6 marks each to be
answered in 100 to 150 words.

Section A
1. is the root of all economic problems.
a) Abundance
b) Allocation
c) Wants
d) Scarcity
2. Sampling scheme where the units constituting the sample are selected at
regular interval after selecting the very first unit at random with equal chance
is called
a) Cluster sampling
b) Stratified sampling
c) Systematic random sampling
d) Purposive sampling
3. Suppose the correlation coefficient between heights (as measured in
feet) versus weight (as measured in pounds) is 0.40. What is the correlation
coefficient of height measured in inches versus weight measured in ounces?
[12 inches = one foot; 16 ounces = one pound]
a) 0.533
b) 0.40
c) 0.30
d) cannot be determined from information given
4.Continuous variable assumes
a) Increase in jumps
b) Both A range of values and Increase in jumps
c) None of these
d) A range of values
5. is the benchmark index for the Indian stock market.
a) Price index
b) Agricultural index
c) Sensex
d) None of these
OR
in which current year quantities are used
a) Fisher’s
a)Laspeyre’s
b) Paasche’s
b) None of these
6. A person who actually collect the desired information is called .
a) Respondents
b) population
c) Investigator
d) Enumerator
OR
One of the drawbacks of the Direct personal investigation method is .
a) It is very costly and time taking process
a) Lacks reliability
b) Questions might be misinterpreted
b) Difficult to get original data
7. Which of the following statement can be called Statistics?
a) Technology of Japan is very advanced.
b) In our school there are 5000 students.
c) India has per capita income of Rs. 20,000 p.a.
d) USA is the richest country in the world.
 8. Calculate the correlation coefficient of the marks obtained by 12 students in
mathematics and statistics and interpret it
Marks (in Maths) 50 54 56 59 60 62 61 65 67 71 71 7
Marks (in statistics) 22 25 34 28 26 30 32 30 28 34 36 4
a) 0.76
b) 0.78
c) 0.77
d) +0.75
9. Assertion (A): Prepaid postage stamps should be affixed.
Reason (R): Informants should be required to spend for posting the
questionnaires back.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
10. Assertion (A): Special purpose tables are small in size and design to
highlight a particular set of facts in simple
and analytical forms.
Reason (R): Special purpose tables are made to provide the results of the
analysis in an ineffective way so that one
finds it easy to make comparisons and clear relationships.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
11. Define the following Terms: (i) Mean (ii) Median.
12. Calculate mode from the following data.

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

Number of Students 4 10 20 35 15 6

13. Find out the median of the data given below by arranging them in
ascending order
X 16 15 15 16 156
0 0 2 1
Frequency 5 8 6 3 7
 14. Construct a frequency polygon without using histogram for the following
data.

Wages (in Number of Wo

Rs.) rkers
0-10 10
10-20 18
20-30 35
30-40 30
40-50 20
50-60 12
60-70 8
70-80 3

OR
Construct a histogram for the following frequency distribution.
Marks Number of
Obtained Students
1-10 4
11-20 6
21-30 12
31-40 20
41-50 8
51-60 10
15.. Write definition of index number and uses of index number especially in
economics?

16. Calculate the correlation coefficient between the height of fathers in inches
(X) and their sons (Y).
X 65 66 57 67 68 69 70 72
Y 67 56 65 68 72 72 69 71

17. Determine the missing frequencies when mode = 36 and total frequency is
30.

Class Interval 10- 20- 30- 40- 50-

20 30 40 50 60
Frequency (f) - 5 12 - 2

OR
Calculate arithmetic mean from the following data using direct
method.
Size 20- 30- 40- 50- 60-
29 39 49 59 69
Frequency 10 8 6 4 2
Section B
18. Which of the following statements is correct?
e) Stock and supply are always equal.
f) Stock refers to the quantity which comes to market for sale.
g) Supply does not depend on government's tax policy.
h) There is difference between supply and stock.
19. A point outside the PPF indicates:
a) Fuller utilization of resources
b) Unattainable combination
c) Attainable combination
d) Under utilization of resources

OR
Which of the following illustrates a decrease in the unemployment using
the PPC ?
a) A
movement from a point inside the PPC to a point towards the PPC
a) A movement from a point on the PPC to a point inside the PPC
b) c) A movement down along the PPC
c) A rightward shift of the PPC
20. When a firm’s TR<TC, it can still cover its normal profit
a) TRUE
b) None of these
c) Can’t say
d ) false
a firm is able to charge higher price
i. a firm is able to charge uniform price
i. a firm is able to sell any amount at the prevailing price
a) only i
a) Both ii and iii
b) only ii
b) only ii
21. Which of the following statement is true?
i.Average Revenue and Marginal Revenue curves have a positive slope.
i. MR curve lies above AR curve. (AR > MR)
ii. Marginal Revenue falls twice the rate of Average Revenue.
iii. So long as Marginal Revenue decreases and is negative, Total Revenue
increases at a diminishing rate.
 a) only iii
a)only i
b) only iv
b) only ii
22. Money costs mean
a) Money expenditure of a producer in the production process
b) Money expenditure on purchase of goods from the factory
c) Money spent by the consumers
d) Money expenditure on output
23. The substitute goods of a normal good are those that can be used
a) Does not exist
b) Along with each other
c) In place of each other
d) Together
24. What happens to total revenue when Marginal revenue is zero
a) TR rises
b) TR falls
c) TR is maximum and constant
d) TR is also zero
25. Can the AC be less than the MC when AC is falling
a) None of these
b) Can’t say
c) No
d)Yes
OR
Total cost is the vertical summation of:
a) TFC and TVC
a)AFC and AVC
b) none of these
b) AFC and AVC

26. Assertion (A): Total expenditure goes in the same direction as the price
does.
Reason (R): With rising in the price of a commodity total expenditure
decreases and with a fall in its price total expenditure increases.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
 27. Assertion (A): Each point on the indifference curve shows one combination
of two commodities.
Reason (R): Each combination offers the same level of satisfaction to the
consumer.
a) Both A and R are true and R is the correct explanation of A.
b) Both A and R are true but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
28. Define marginal opportunity cost along with a PPC.

29. Explain any two factors that affect Price Elasticity of Demand.
OR
Price Elasticity of Demand of a good is (-) 0.75. Calculate the percentage
fall in its price that will result in 15% rise in its

demand.
30. A and B are complementary goods. Explain the effects of change in price
of A on demand for B.
31. From the following schedule, find out the level of output at which the
producer is in equilibrium. Give reasons for your answer.
Output (Units) 1 2 3 4 5 6 7
Price (Rs.) 24 24 24 24 24 24 24
Total Cost 26 50 72 92 115 139 165
OR
From the following Total Cost and Total Revenue schedule of a firm, find out
the level of output, using Marginal Cost

and Marginal Revenue approach, at which the firm would be in equilibrium. Give
reasons for your answer.
Output Total Revenue Total Cost
(units) (Rs) (Rs)
1 10 9
2 18 15
3 24 21
4 28 25
5 30 33

32. Define a budget line. When can it shift to the right?

33. What is meant by supply? List any three determinants of supply of
commodity.
34. What do you understand by consumer’s equilibrium? Show consumer’s
equilibrium with the help of in difference
curve analysis.