VIDYAWATI NIGAM MEMORIAL PUBLIC SCHOOL

NARAINI ROAD, BANDA

YEARLY EXAMINATION
Class 11 - Economics
Time Allowed: 3 hours Maximum Marks: 80

General Instructions:

1. This question paper contains two sections:

Section A – Micro Economics

Section B – Statistics

2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.

3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered in 60 to 80 words.

4. This paper contains 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.

Section A
1. Assertion (A): Data should be gathered with maximum care by the investigator himself or obtained from [1]
reliable published or unpublished sources.
Reason (R): Collection is the last step in a statistical study and is the basis of statistical analysis.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

2. In Laspeyre’s index number, the weight pertains to [1]

a) None of the given b) Both Base year and current year quantities

c) Current year quantities d) Base year quantities

3. If all the plotted points in a scatter diagram lie on a single line, then the correlation is: [1]

a) Perfect positive b) Perfectly positive or Perfectly negative

c) Both (Perfect positive) and (Perfect d) Perfect negative

negative)
4. Calculate index numbers from the following data by simple aggregate method taking prices of 2000 as base. [1]

Commodity A B C D

Price per unit (in Rupees) 2000 80 50 90 30

2001 95 60 100 45

a) 120 b) 150

c) 130 d) 140

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 5. P01 is the index for time [1]

a) 0 on 0 b) 0 on 1

c) 1 on 0 d) I on 1
6. _________ reflects on the price change experienced by families of people. [1]

a) weighted average price b) none

c) consumer price index d) whole sale price index

7. Statistics in a plural sense indicates. [1]

a) inductive statistics b) statistical methods

c) Statistical data d) descriptive statistics

8. A comparison among the class frequencies is possible only in [1]

a) Histogram b) Either (Ogive) or (Frequency polygon)

c) Ogive d) Frequency polygon

9. Consumer Price Index (CPI) is expressed in terms of: [1]

a) ∑ Pn qn
× 100 b) ∑ P1 q0
× 100
∑ Po qn ∑ P0 q0

c) ∑ P0 q0
d) ∑ Pn qn

∑ Pn q0 ∑ Po qn

10. Calculate the correlation coefficient of the marks obtained by 12 students in mathematics and statistics and [1]
interpret it

Marks (in Maths) 50 54 56 59 60 62 61 65 67 71 71 74

Marks (in statistics) 22 25 34 28 26 30 32 30 28 34 36 40

a) 0.76 b) 0.78

c) 0.77 d) +0.75
11. If the salary of a person in the base year is ₹ 4,000 per annum and the current year salary is ₹ 6,000, by how [3]
much should his salary be raised to maintain the same standard of living if the CPI is 400?
12. The arithmetic mean of 1, 3, 5, 6, X and 10 is 6, then find the value of X. [3]
OR
Find unknown frequency in the table given below.

X Frequency (f)

5 5

10 7

15 ?

20 10

25 8

30 6

Σf = 50

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13. Write the characteristics of good classification. [4]
14. Differentiate between Sub Divided and Multiple Bar Diagram. [4]
OR
Construct a pie diagram to represent the cost of construction of a house in Delhi.

Items Expenditure (in %)

Labour 25

Bricks 15

Cement 20

Steel 15

Timber 10

Supervision 15

15. Distinguish between Primary data and secondary data. [4]

16. Calculate coefficient of rank correlation from the following data. [6]

X 48 33 40 9 16 16 65 24 16 27

Y 13 13 24 6 15 4 20 9 6 19

17. Calculate the upper and lower quartiles for the following frequency distribution. [6]

Class Interval Frequency (f)

13-25 6

25-37 11

37-49 23

49-61 7

61-73 3

Total 50

OR
Two distributions with 100 and 200 items have a mean of 20 and 10. Find the combined mean of two distributions.
Section B
18. In the case of contraction of supply, we move: [1]

a) from upper point to lower point b) none of these

c) to right on the another supply curve d) from lower point to upper point
19. A PPC can shift its position if and only if [1]

a) None of these b) If technology remains constant

c) If resources remain constant d) If technology improves

20. In perfect competition the goods are [1]

a) Heterogeneous b) Durable

c) Homogeneous d) Differentiated

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21. What happens to TR when MR is positive? [1]

a) TR increases b) TR decreases

c) TR remains same d) TR is maximum

22. When TVC is zero at zero level of output, TFC [1]

a) Is positive and greater than zero b) Is positive and less than zero

c) Is negative but greater than zero d) Is positive and equal to zero

23. Assertion (A): The consumer buys less tea even when the price of tea is constant. [1]
Reason (R): The demand curve for tea shifts to the left when the price of the substitute commodity means coffee
decreases.

a) Both A and R are true and R is the correct b) Both A and R are true but R is not the
explanation of A. correct explanation of A.

c) A is true but R is false. d) A is false but R is true.

24. A firm under perfect competition is a price taker not a price maker due to [1]

a) Supply of identical goods by all sellers b) Supply of differentiated goods by all sellers

c) Supply of rare goods by all sellers d) Greater belief in the market forces
25. What happens to TR when MR is decreasing but remains positive [1]

a) Increases at decreasing rate b) Decreases at increasing rate

c) Decreases at decreasing rate d) Increases at increasing rate

26. TVC curve starts from origin as [1]

a) TVC slopes upward from the origin at b) TVC is vertical curve from origin
higher level of output

c) TVC is zero at zero level of output d) TVC is horizontal

27. What is price line [1]

a) The MR curve b) The AR curve

c) The demand curve d) The TR curve

28. If more & more resources are constantly explored and new techniques of production are constantly discovered, [3]
don't you think a day will come when our central problems will be solved once for all?
OR
Explain the central problem of distribution of income.
29. What is meant by a price ceiling? Explain its implications. [3]
30. Define Demand. Name the factors affecting market demand. [4]
31. Explain the conditions of producer’s equilibrium with the help of a schedule, assuming that the producer can sell [4]
more at the same price.
OR
Why is the equality between marginal cost and marginal revenue necessary for a firm to be in equilibrium? Is it
sufficient to ensure equilibrium? Explain.
32. Law of diminishing marginal utility will operate even if consumption takes place in intervals. Defend or refute. [4]
33. Calculate the MP of variable factor and indicate the various phases of Law of Variable Proportions from the [6]

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 following schedule:

Units of variable factor 0 1 2 3 4 5 6

TP (in units) 0 50 110 150 180 180 150

34. Answer the following questions [6]

(a) A 5% fall in price of a good leads to 10% rise in its demand. A consumer buys 40 units of a good at a [3]
price of Rs 10 per unit. How many units will he buy at a price of Rs 12 per unit? Calculate.
(b) Explain any two factors that affect Price Elasticity of Demand. [3]

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