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CBSE Class 11 Pre Board 2019 : Economics (St Xavier's Sr. Sec. School, Delhi)

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Annual Examination in ECONOMICS Std. 11 16-2-2019 Time : 3 hrs. Max. Marks : 80 General Instructions: i) Questions 1-4 and 13-16 are very short answer questions of 1 mark each. Answer them in one sentence each/write the correct option on your answer sheet. ii) Questions 5-6 and 17-18 are short answer questions of 3 marks each. Answer them in a maximum of 60 words each. iii) Questions 7-9 and 19-21 are short answer questions of 4 marks each. Answer them in a maximum of 70 words each. iv) Questions 10-12 and 22-24 are long answer questions of 6 marks each. Answer them in a maximum of 100 words each. v) Word limits do not apply to numericals. Section - A : Introductory Microeconomics 1. What is the reason behind the concave shape of PPC? (OR) When will the PPC be a downward sloping straight line? 2. Change in quantity supplied refers to a) An upward or downward shift of supply curve. b) An upward shift of supply curve. c) An upward or downward movement along the supply curve. d) A downward movement along the supply curve. 3. When average product falls, what is the relation between MP and AP? (OR) When total product falls, what happens to marginal product? 4. Suppose total revenue is increasing at a constant rate as more and more units are sold, then marginal revenue would be a) Greater than average revenue b) Equal to average revenue c) Less than average revenue d) Rising 5. Distinguish between expansion and increase in demand. Use diagram (OR) Distinguish between contraction and decrease in demand. Use diagram. 6. Draw a PPC and show the following situations on the diagram. Give reasons. a) Full employment of resources b) Under utilization of resources c) Growth of resources 7. The equilibrium price of food grains is very high. Suggest a price control that can be used by the government to help the poor consumers. Use diagram and explain the consequences of such a price control. (OR) The equilibrium price of sugar is very low. Suggest a price control that can be used by the government to help the producers. Use diagram and explain the consequences of such a price control. 8. A consumer buys 20 units of a good at a price of Rs 10 per unit and when the price falls to Rs 8 per unit, he buys 4 units more. Calculate the price elasticity of demand and comment on the likely shape of the demand curve based on the value of elasticity. Std. 11 -2- ECONOMICS 9. Given that the average fixed cost of producing 3 units of output is Rs 10, calculate the total cost and marginal cost at each level of output in the given cost schedule. Output Average variable cost 1 20 2 19 3 20 4 21.5 (OR) Use diagram and explain the relation between Marginal cost and Average Variable cost. 10. Explain the implications of the following: 3+3 a) The feature of free entry and exit under monopolistic competition. b) The feature of large number of buyers and sellers under perfect competition. (OR) a) State three main features of a monopoly market and describe their implications. b) How is collusive oligopoly different from non-collusive oligopoly? Explain giving examples. 11. The following table shows the total revenue and total cost schedule of a firm. Locate producers equilibrium and give reasons for your answer. Also compute the maximum profit of the firm and determine the market price of the good. 4+1+1 Units sold TR TC 12. 0 0 5 1 5 10 2 10 13 3 15 15 4 20 18 5 25 23 6 30 33 7 35 45 State and explain the conditions of consumer s equilibrium using indifference curve analysis when the consumer consumes only two commodities. Section B : STATISTICS FOR ECONOMICS 13. Which a) b) c) d) of the following is not true about statistics? Statistics can be used to mislead people. Statistics is a good substitute for common sense. Statistics fails to study qualitative data. Statistics means aggregate of facts expressed as numerical data. 14. Define chronological classification. 15. The mean of 5 observations is 25. If all the items are increased by 3, then what will happen to the mean? Give reason for your answer. 16. Which a) b) c) d) 17. Identify the method of collecting a random sample from a population which is heterogeneous. Explain it using suitable example. (OR) Identify the method of collecting a random sample from a population which is homogeneous. Explain it using suitable example. 18. Compute the mode of the following series: of the following statements is true about inter-quartile range: It can be calculated by subtracting the median from the third quartile. It is based on middle 50% of values in the data set. It is based on all observations. It is not suited for open ended classes. (OR) If 25% of the population earns more than Rs 60,000/- and 25% of the population earns less than Rs 20,000/-, calculate the suitable relative measure of dispersion. Mid values Frequency Std. 11 5 7 10 13 15 18 20 24 -3- 25 32 30 28 35 17 40 8 45 5 ECONOMICS 19. Construct Lorenz curves for the given data and compare the variability in the income in the two factories A and B. Wages in rupees 10 12 14 16 Workers in Factory A 60 80 120 90 Workers in Factory B 150 100 90 110 distribution of 20 100 30 28 50 20 20. Out of a total number of 1750 people who applied for a job, 1150 were females. Out of the total applicants, 1420 were graduates and the others were post graduates. The number of male applicants who were post graduates were 250. Tabulate the given information and give it a suitable title. 21. Draw a histogram and frequency polygon for the following data: Marks 5-9 10-14 15-19 20-24 25-29 Number of students 4 17 25 32 16 (OR) Draw a less than and a more than ogive for the following data: Marks (more than) 0 10 20 30 40 50 60 Number of students 100 96 86 70 48 28 10 22. a) b) a) b) 23. a) Compute mean deviation from median and its coefficient: X(age) 20-30 30-40 40-50 Number of workers 8 12 20 50-60 16 60-70 4 3+3 Calculate coefficient of rank correlation between X and Y and comment on your answer. 48 14 33 14 40 24 9 5 16 15 16 4 70 20 25 9 15 5 57 19 Compute the Karl Pearson s coefficient of correlation and comment on your answer. X Y 24. 70 2 Calculate mean deviation from mean and its coefficient for the following data: X 200-400 400-600 600-800 800-1000 F 20 40 30 10 Coefficient of variation of wages in a school is 15%. If the standard deviation is 120, what is the mean? If every worker is given a raise of Rs 200, will the wages become more or less uniform? Justify your answer. 3+3 (OR) Calculate standard deviation: X (less than) 10 20 30 40 50 60 70 Number of students 10 25 50 75 85 95 100 X Y b) 30-34 4 100 8 500 16 400 14 700 20 300 12 200 10 600 18 3+3 Calculate price index numbers for 2016 using 2012 as the base year. Use the following methods: a) Laspayre s method b) Paasche s method c) Weighted average of price relatives method. ITEMS A B C D Weights in % 40 30 20 10 Base year price (Rs) 2 5 4 2 Current year quantity 50 100 150 100 Current year price (Rs) 4 6 5 3 Base year quantity 100 120 200 150 2+2+2 -x-x-x-x-x-x-x-

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