L. P.

SAVANI INTERNATIONAL SCHOOL (CBSE), PAL

A.Y. : 2024 - 25
DATE - 23/12/2024 PB– I/HY EXAMINATION MAX. MARKS -
80
GRADE – XI SUBJECT- Economics DURATION – 3
Hrs

NAME OF THE STUDENT: ____________________________ ROLL NO: ___________

General instructions:

SECTION –A Micro Economics

1 The following change in PPC is due to:

[1]

(a) Massive Unemployment

(b) Destruction of Resources

(c) Increase in Resources

(d) Fuller Utilisation of Resources

2 2. The assumption of "Constant marginal utility of money" means that importance of money to consumer is:

(a) Increasing

(b) Decreasing [1]

(c) Same

(d) None of these

3 Expansion of Demand is associated with: [1]

(b) Fall in Price, Fall in quantity demanded

(a) Rise in Price, Rise in quantity demanded

 (d) Rise in Price, Fall in quantity demanded

(c) Fall in Price, Rise in quantity demanded

4

[1]

5 When AC is rising MC is:

(a) Equal to AC

(b) More than AC

[1]

(c) Less than AC

(d) Constant
6 The following figure shows
(a) Total Cost

(b) Total Variable Cost

(c) Total Fixed Cost

[1]

(d)Marginal Cost
7

[1]

The following movement in the demand curve is

because of:

(a) Increase in price of given commodity

(b) Decrease in price of given commodity

(c) Increase in price of substitute good

(d) Decrease in price of complementary good

8 The Opportunity Cost arises:

(b) When there are two or more alternatives

(a) When there is just one alternative [1]

(d) None of these

(c) Either (a) or (b)

9 Which of the following is a characteristic of utility?
(a) Utility is Subjective

(b) Utility is a relative concept

(c) Utility is a Psychological phenomenon [1]

(d) All of these

10 Read the following statements: Assertion (A) and Reason (R). Choose one of the correct [1]
alternatives given below:

Assertion (A): When MR becomes negative, TR starts falling.

Reason (R): When price falls with rise in output, then MR is more than AR.

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 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.

11 When the price of a good rises from 10 per unit to 12 per unit, its quantity demanded falls by [3]
20 percent. Calculate its price elasticity of demand. How much would be the percentage
change in its quantity demanded, if the price rises from 10 per unit to 13 per unit?
OR
On the basis of given diagram, answer the following questions:

(i) Indicate, whether price will fall or remain same with rise in output.

(ii) What does the shaded area OPRQ indicate?

(iii) What will be the nature of MR curve?

12 What is meant by "diminishing returns to a factor"? Discuss any two reasons for the operation [3]
of diminishing returns to a factor.

[3]
13 Suppose a consumer whose budget is 500, wants to consume only two goods, Good X and [2]
Good Y. The goods are respectively priced at 50 and 25. Answer the following questions on
the basis of the given information: [2]
(a) State the budget equation of the consumer.

(b) What is the slope of the budget line?

(c) How many units can she purchase if she spends the entire 500 on Good X?

(d) How many units can she purchase if she spends the entire 500 on Good Y, given that the
price of good Y has doubled?
14 Does a fall in income have the same effect on demand for the given commodity? [4]
OR
What is the relationship between price elasticity of demand of a commodity and total
expenditure on it? Explain.
15 Explain, in brief, the various points of difference between fixed cost and variable cost. [4]

[4]

16 Define average fixed cost (AFC), average variable cost (AVC) and average cost (AC). Draw a [4]
diagram with the help of an imaginary schedule and discuss the shapes of AFC, AVC and AC
curves.
OR
Briefly discuss the shapes of TR, AR and MR curves with the help of an imaginary schedule
and diagram (when price remains same).
[1]

[1]

17 17. On the basis of following data, determine producer's equilibrium through marginal cost- [2]
marginal revenue approach. Give reasons for your answer. [4]

[2]
[2]
[2]
 SECTION –B Statistics for Economics
1 Basic reason for existence of economic problem is: [1]
(a) Unlimited wants (b) Scarcity (c) Alternative uses (d) None of these

2 Statistics is defined in terms of numerical data in the: [1]

(a) Singular sense (b) Plural sense (c) either (a) or (b) (d) both (a) and (b)

For question 3 and 4 read the statements: Assertion [A] and Reason [R]. Choose one of
the correct alternatives from below:
(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 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

3 Assertion [A]: statistical data should be uniform and homogeneous. [1]

Reason [R]: Homogeneous data is not comparable.
4 Assertion [A]: The results of Indirect oral investigation are very accurate. [1]
Reason [R]: In case of Indirect oral investigation, information is obtained from other
persons, not directly connected.

5 A good questionnaire should have: [1]

(a) Minimum questions (b) Concise (c) clear (d) All of these

6 Read the following statement carefully and choose the correct alternative from the [1]
following:
Statement1: In case of inclusive series, both the limits of the class interval are counted in
the same class.
Statement 2: Exclusive series ensures continuities of data.
(a) Statement 1 is true and statement 2 is false.
(b) Statement 2 is true and statement 1 is false.
(c) Both statements are true.
(d) Both statements are false.

7 Class interval is measured as: [1]

(a) half of the sum of lower and upper limit (b) lower + upper limit
(c) half of difference between lower and upper limit (d) upper - lower limit

8 The main objective of tabulation is__________. [1]

(a) To provide reference (b) To economize space (c) To facilitate comparison (d) All of
these

9 The heading of the rows given in the first column of a table are called: [1]
(a) Stubs (b) Titles (c) Captions (d) Prefatory notes

10 The mean of 12 numbers is 24. If 5 is added in every number, the new mean is: [1]
(a) 25 (b) 120 (c) 29 (d) None of these
11 Out of total number of 750 people, who applied for job in Reliance industries, 150 are [3]
females. Out of total applicants, 420 are graduates and others are post graduates. The
number of male applicants who are post graduates are 250. Tabulate the given
information.

12 The following table gives the number of students appearing at the various examination [3]
from a college in 2020,2021,2022. Represent the data by a suitable diagram.
Year 2020 2021 2022
B.A. 250 300 375
B.B.A 425 450 510
B. Com 175 220 240

[3]
OR
“Classified data is better than raw data.” – Do you agree? Why?

13 [A] Discuss any four demerits of Arithmetic mean. [2]

[B] Arithmetic mean of the following series is 41. Find the missing value. [2]

Age 20 30 40 ? 60 70
No of Peoples 8 12 20 10 6 4

14 From the following distribution of marks of students in a school, construct a histogram [4]
and frequency polygon.

Marks 10-19 20-29 30-39 40-49 50-59 60-69

No of students 8 12 24 20 16 6

15 Explain in brief, the limitations of diagrammatic presentation? [4]

OR
Draw a pie diagram to represent the following data of expenditure of an average [4]
working-class family.
Items of Exp. Food Clothing Rent Education Misc.
% of total Exp. 70 10 5 10 5

16 [A] The following table gives the profit earned by various companies. Calculate the [4]
average profit earned.

Profit (₹ in Crore) Less Less Less Less Less Less

than 20 than 30 than 40 than 50 than 60 than 70
[1]
No of Companies 5 22 48 60 83 100
[1]
[B] Mean cannot be determined graphically. True or False ?

[C] Short-cut method is also called _____________.

17 [A] Explain in brief, advantages of graphic presentation. [2]
[B] Draw a ‘Less than’ ogive and ‘More than’ ogive curves for the following frequency [4]
distribution.
Monthly pocket money 500- 1000- 2000- 3000- 4000- 5000-
(in ₹) 1000 2000 3000 4000 5000 6000
No. of Teenagers 3 4 8 10 3 2

OR
Following marks were obtained by 25 students of a class X in Mathematics paper
carrying 50 marks.
19 13 12 25 32 12 31 19 21 23
27 41 29 30 45 39 33 40 17 11
20 26 14 41 15
[I] Construct a frequency distribution when class intervals are exclusive, taking lowest [2]
class as 10-20. [2]
[2]
[II] Find the mean marks from frequency distribution generated in [I].
[III] Draw a suitable diagram or graph base frequency distribution generated in [I].

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