VIBGYOR HIGH

Annual Examination
SAMPLE PAPER
ECONOMICS
Grade: XI Max. Marks: 80
Date : Time Allowed: 3 hour

General Instructions

• Answers to this paper must be written on the paper provided separately.

• You will not be allowed to write during the first 15 minutes.
• This time is to be spent in reading the question paper.
• The time given at the head of this paper is the time allowed for writing the
answers.
• Marks for questions are indicated against each question.
• The question consists of two parts:
❖ Part A - Statistics for Economics.
❖ Part B - Introductory Microeconomics.
• Question No. 1- 10 and Question No. 18- 27 are multiple choice questions of
one mark each.
• Question No. 11- 12 and Question No. 28- 29 are 3 marks questions.
• Question No. 13- 15 and Question No. 30- 32 are 4 marks questions.
• Question No. 16- 17 and Question No. 33- 34 are 6 marks questions.
• The question paper consists of 8 printed pages.

Part A-Statistics for Economics

Q. 1 What will be the degree measure of an angle in the pie diagram if a [1]
household spends 80% of his income on goods?
a) 1800
b) 900
c) 2280
d) 720
Q. 2 Assertion (A): The width of the bars should be equal in bar graph. [1]
Reason(R): Bar graph is two dimensional.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the
correct explanation of Assertion (A)

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 b) Both Assertion (A) and Reason (R) are true and 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.
Q. 3 Which of the following statements is incorrect? [1]
a) Resources have alternative uses
b) All numbers are Statistics
c) Macroeconomics studies large aggregates
d) Statistics studies only the aggregates of quantitative facts
Q. 4 Primary data is more useful when: [1]
a) High degree of accuracy is required
b) Source of origin is not important
c) Less time is available
d) All the above
Q. 5 Frequency of variables in an individual series is: [1]
a) Same
b) Zero
c) One
d) All of these
Q. 6 In ________ data, values of all the units are arranged in groups which are [1]
exactly measurable.
a) Individual
b) Discrete
c) Continuous
d) All the above
Q. 7 Sum of deviations from mean is: [1]
a) Zero
b) Minimum
c) Maximum
d) None of these
Q. 8 The values of all items are taken into consideration in the calculation of: [1]
a) Mean
b) Median
c) Mode
d) Quartile deviation
Q. 9 The coefficient of correlation is independent of ---- [1]

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 a) Change of scale only
b) Change of origin only
c) Change of scale and origin
d) Change of variables
Q. 10 Which of the following index numbers assume that all the commodities are [1]
of equal importance.
a) Weighted index number
b) Simple index number
c) Reciprocal index number
d) Both a and b
Q. 11 Read the Case given below and answer the question.
‘Human resource managers frequently use measures of central
tendency to determine what sort of salary to offer to new hires and to
be aware about the most common positions held by their employees.’

a) Analyze and state the particular measure of central tendency adopted [2]
by Human resource managers in each situation mentioned.
b) Give one formula each to calculate the measure. [1]

Q. 12 Construct a discrete series with the help of data given on 20 students of [3]
Class XI have secured following the marks: Use the tally mark method.

15, 17, 21, 20, 18, 15, 19, 18, 19, 17, 19, 15, 21, 17, 16, 19, 21, 19, 17, 21
OR

Q. 12 Create a Pie diagram for the following data. [3]

Age group Below 15 years 15- 60 years Above 60 years

Population 9 31 62

Q. 13 Calculate Median from the following set of data: [4]

X 0-10 10-20 20-30 30-40 40-50
f 3 4 2 7 10

Q. 14 Create ‘more than’ and ‘less than’ cumulative frequency distributions from [4]
the following data.

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 Wages (in Rs) Number of workers
0- 5 6
5- 10 8
10- 15 12
15- 20 12
20- 25 27
25- 30 26
30- 35 22
35- 40 3

Q. 15 Describe the degrees of correlation. [4]

OR
Q. 15 Explain the steps to be followed while constructing Spearman’s Rank [4]
Correlation if ranks are not repeating.
Q. 16 Analyze the picture and answer the questions below:

[1]
a) What does this picture represent? [1]
b) State the measure used to analyze the changes in cost of living. [2]
c) Describe the two different methods of constructing it. [2]
d) Analyze any two real life uses of index numbers.
Q. 17 Discuss the importance of statistics in Economics. [6]
OR
Q. 17 Statistics is not free from limitations. Justify the statement. [6]

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 Part B - Introductory Microeconomics
Q. 18 Assertion (A): All attainable combinations of good x and good y are below [1]
the budget line of the consumer.
Reason (R): Attainable combination of good. X and good y are below as well
as along the budget line.
a) Both Assertion (A) and (R) are true Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not
the correct explanation of Assertion
c) Assertion (A) is true but Reason (R) is false
d) Assertion (A) is false but Reason (R) is true
Q. 19 Assertion: In the short run, a firm can adjust all of its inputs to optimize [1]
production.
Reason: The short run is a period during which at least one input is fixed,
and firms cannot adjust all inputs.
a) Both Assertion (A) and (R) are true Reason (R) is the correct
explanation of Assertion (A)
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not
the correct explanation of Assertion
c) Assertion (A) is true but Reason (R) is false
d) Assertion (A) is false but Reason (R) is true
Q. 20 The problem of ‘what to produce’ relates to: [1]
a) The choice of technique
b) The distribution of income
c) Market value of the goods and services
d) The choice of goods and services.
Q. 21 When marginal utility is zero, total utility is [1]
a) Negative
b) Zero
c) Minimum
d) Maximum
Q. 22 A consumer consumes only two goods X and Y whose prices are 10 and ` [1]
12 per unit respectively. If the consumer chooses a combination of the two
goods with marginal utility of X equal to 12 and that of Y equal of 10, then
the consumer will ----------
(a) Buy more units of both, X and Y

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 (b) Buy more units of Y and less of X
(c) Buy more units of X and less of Y
(d) Buy less units of both, X and Y
Q. 23 What is the slope of an Indifference curve? [1]
a) Marginal Rate of Substitution
b) Marginal Rate of Transformation
c) Marginal Utility
d) Marginal Difference
Q. 24 Market supply curve is _____________ sum of individual supply curve. [1]
a) Vertical
b) Horizontal
c) Diagonal
d) All the above
Q. 25 If all units are sold at the same price how will it affect AR and MR at all [1]
levels?
a) AR= MR
b) AR> MR
c) AR< MR
d) Will be unaffected
Q. 26 If the demand curve of an individual firm is perfectly elastic, then [1]
a) firm can influence the price
b) firm has a partial control over price
c) firm is a price taker
d) firm is a price maker
Q. 27 The period of time, when supply is fully adjusted to change in demand is [1]
called
a) Short period
b) Very short period
c) Long period
d) Very long period
Q. 28 Read the case given below and answer the question: [3]
A producer is said to be in equilibrium when he produces that level of
output at which his profits are maximum or costs are minimised, and
has no tendency to change from that level of output. So, we can say
that producer's equilibrium refers to the situation of profit
maximisation or cost minimisation. A firm or a producer will not be

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 inclined to either expand or contract his production level beyond this
point as both the conditions would result in earning lesser profits than
before.

Based on the above information, state the necessary and sufficient condition
for producer’s equilibrium along with the help of diagram.

Q. 29 Differentiate between Micro Economics and Macro Economics. [3]

OR
Q. 29 Analyse the reasons for economic problem with a real-life example. [3]
Q. 30 Explain the following conditions: [4]
(a) Movement along the same indifference curve.
(b) Shift from a lower to a higher indifference curve.
Q. 31 Complete the following table: [4]
Unit (Output) AVC TC MC
1 - 50 20
2 18 - -
3 - - 18
4 20 110 -
5 22 - -

Q. 32 Give reasons for the increasing returns to a factor. [4]

OR
Q. 32 State with reason whether the following statements are true or false: [4]
a) Average product will increase only when marginal product increases.
b) Under diminishing returns to a factor, total product continues to
increase till marginal product reaches Zero.
Q. 33 Define indifference curve and explain its properties with the help of [6]
diagrams.
Q. 34 Explain the Government intervention s in market price control. [6]
OR
Q. 34 Consider a market for a good in equilibrium. Analyse and explain the chain [6]
effects of the following changes.
a) When demand increases more than the Supply.
b) When demand and supply increase equally.

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