Vallabh Ashram’s M.G.M. Amin & V.N.
Savani School, Killa Pardi
Date: 05/03/2025 Periodic Test 4 M.M.- 80 marks
Std – 11th Commerce Economics (SET 3) Time- 3 hours
General Instructions:
I. Mention the set number of your question paper on your answer sheet.
II. All questions are compulsory and marks are indicated against each question.
III. 3 marks questions are Short Answer Type Questions are to be answered in 30-50 words.
IV. 4 marks questions are Short Answer Type Questions are to be answered in 50-80 words.
V. 6 marks questions are Long Answer Type Questions are to be answered in 80-120 words.
VI. Answer should be in brief and to the point and the above word limit should be adhered to as far as
possible.
VII. Write down the Serial number of the question before attempting it.
VIII. This paper consists of 3 pages.
Part A: Statistics
1. Airways published data regarding the progress of airways. what type of data is this data for an
investigator? 1
a) Primary b) Secondary c) Tertiary d) None of the above
2. If price index is 95, it means prices are: 1
a) Decreased by 5% b) Decreased by 95% c) Increased by 5% d) Increased by 95%
3. which of the following facts is statistics?
a) Arjun secured 66% marks in English.
b) Arjun secured 90% marks in Economics. 1
c) Arjun secured 90% marks in Economics this year, whereas he secured 80% marks in
Economics previous year.
d) All of the above.
4. __________explains the specific feature of the data in the content of the table which is not self-
explanatory and has not been explained earlier. 1
a) Source note b) Stub c) Caption d) None of the above
5. Assertion (A): while calculation median of the series, the items need to be arranged in either
ascending of descending order.
Reason (R): In median, the central item is to be found which divides the series into equal parts.
a) Both Assertion (A) and Reason (R) are true and reason is the correct explanation of assertion. 1
b) Both Assertion (A) and Reason (R) are true and reason 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
6. The difference between the upper limit and lower limit of the class interval is called? 1
a) Class limits b) Class size c) Mid value d) Frequency
7. What type of correlation is present between happiness and death anxiety? 1
a) Positive b) Negative c) Neutral d) Cannot be determined
8. Which of the following statements are false?
a) Statistics deals with only quantitative data. c) Statistics does not study individual. 1
b) Statistics solves economic problems. d) Statistics deals with qualitative data.
9. Correlation coefficient is always ________. 1
a) 0 to –0 b) +1 to -1 c) +2 to -2 d) +1 to 0
10. What measure of central tendency will you use when you need to find what marks have maximum
number of students got in statistics? 1
a) Mean b) Median c) Mode d) Correlation
11. Explain the welfare definition of economics. Elaborate any two importance of statistics. 3
12. What is non probability sampling? Explain any two types of it.
OR 3
Name any six published sources from which secondary data can be obtained.
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13. Use pie diagram to represent the following data.
Expenditure Item Amount (₹)
Salary and Wages 45000
Rent 15000
Interest Payment 8000
Repair 20000 4
Capital Formation 12000
OR
There are 1440 employees in a certain company. Of all the employees, one in three is a woman
and one in twelve is a married woman. One in six of the man is a married man. Tabulate the
above data in complete figures.
14. The mean of 200 items was 50. Later it was discovered that two items were misread as 92 and 8 instead of
4
192 and 88. Find the correct mean.
15. Calculate cost of living index from the following by using aggregate expenditure method.
Products Quantity (2012) Prices in 2012 Prices in 2019
Food 15 10.00 12.00
Rent 20 16.50 20.00 4
Fuel 8 6.00 7.50
Clothing 12 15.00 16.00
Misc. 10 8.00 11.50
16. Calculate mode from the following.
Class 4-8 12-16 20-24 28-32 36-40 44-48 52-56 6
Frequency 8 6 20 50 20 2 3
17. Calculate Rank Correlation Coefficient from the following.
X 12 12 12 8 6 14 10 10
Y 14 13 13 16 12 8 6 14
OR 6
Calculate Karl Pearson’s Coefficient of correlation from the following.
X 20 11 72 65 43 29 50
Y 60 63 26 35 43 51 37
Part 2: Microeconomics
18. In perfect competition, which of the following remains constant?
1
a) AR b) MR c) Both (a) and (b) d) None of these
19. Assertion (A): In the long run, production is done only by using the variable factor.
Reason (R): All factors are variable in the long run.
a) Both Assertion (A) and Reason (R) are true and reason is the correct explanation of assertion.
b) Both Assertion (A) and Reason (R) are true and reason is not the correct explanation of 1
assertion.
c) Assertion (A) is true but Reason (R) is false
d) Assertion (A) is false but Reason (R) is true
20. If it is given that the total variable cost for producing 15 units of output is ₹ 3000 and for 19 units
is ₹ 5000. Find the value of Marginal cost of 19th unit. 1
a) 2000 b) 1500 c) 1000 d) 500
21. Which of the following is an assumption of PPF?
a) Resources are not fully employed.
b) Resources are not equally efficient for the production of the two goods. 1
c) Resources available are not fixed.
d) The level of technology is not constant.
22. When total revenue is constant, what will be the effect on average revenue?
1
a) AR will fall b) AR will rise c) AR will be constant d) No effect on AR
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23. Statement 1: A producer is said to be in equilibrium when he wishes to expand the output.
Statement 2: The difference between revenue and cost is termed as profit.
1
a) Both the statements are true c) Statement 1 is true and 2 is false
b) Both the statements are false d) Statement 2 is true and 1 is false
24. What happens to TU when MU is at point of Satiety?
1
a) TU is increasing b) TU is at maximum c) TU is increasing d) None of these
25. Which of the following do not cause shift of supply curve of a good? 1
a) Price of Input b) Goods and Service Tax c) Subsidies d) None of the Above
26. From the above schedule, at what level of output producer reaches its equilibrium level?
(The cost of producing first unit is ₹ 10).
Output TC TR
1 10 10
2 17 18 1
3 23 24
4 28 28
5 31 30
a) At 1st unit b) At 2nd unit c) At 3rd unit d) At 4th unit
27. What will be the effect on equilibrium price and equilibrium quantity when income increases in
case of normal goods? 1
a) Both equilibrium price and quantity fall c) Equilibrium price rises and quantity falls
b) Both equilibrium price and quantity rise d) Equilibrium price falls and quantity rises
28. State the meaning and properties of production possibility frontier. 3
29. Explain the budget line. Expound why the budget line a straight line.
OR 3
Explain the indifference curve. Expound why the indifference curve is convex to the origin.
30. At a price of ₹ 8 per unit. The total revenue of the seller was ₹ 1600. Its price elasticity of supply 4
is 1.5. If its price rises by ₹ 2 per unit, calculate its quantity supplied at the new price.
31. A consumer consumes only 2 goods A and B, the price of A is ₹ 208 per unit and the price of B
is ₹ 26 per unit. If the consumer chooses a combination of the two goods with MRS equal to 7, is
4
the consumer in equilibrium? Why or why not? What will a rational consumer do in this
situation? Explain.
32. Explain the feature of “Entry of Firms” in all forms of markets.
OR 4
Discuss the nature of demand curve under monopolistic competition and oligopoly market.
33. Answer the following (3+3)
a) What happens to the difference between ATC and AVC as production is increased? (explain
with the help of diagram). 6
b) What happens to MR and AR when the demand of the product rises due the fall in the price
of the product? (explain with the help of diagram).
34. Market is in equilibrium. Explicate the change in the market price and output when there is: (3+3)
a) Decrease in demand < Increase in supply
b) Increase in demand < Increase in supply
OR 6
Market is in equilibrium. Explicate the change in the market price and output when there is: (3+3)
a) Decrease in supply > Increase in demand
b) Decrease in supply > Decrease in demand
ALL THE BEST
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