COMMON TERM-I EXAM (2021-22 )CHANDIGARH REGION

MAX. MARKS: 40 CLASS: XI

TIME: 90 MIN. SUBJECT: ECONOMICS
General Instructions: -

1. There are 60 questions in this paper out of which 50 questions are to be attempted.
2. This paper is divided into three sections:
Section A: Contains 24 questions. Attempt any 20 questions.
Section B: Contains 24 questions. Attempt any 20 questions.
Section C: Contains 12 questions. Attempt any 10 questions.
3. All questions carry equal marks.
4. There is no negative marking.

SECTION: A

(20 questions out of 24 questions are to be attempted)

1. ____________ is the root of all economic problems.

(A) Unemployment
(B) Poverty
(C) Alternative uses of resources
(D) Limited human wants
2. Which of the following is not a function of Statistics?
(A). Economic forecasting (B). Economic equilibrium
(C). Political equilibrium (D). Construction of economic models

3. Which is an economic activity?

(A). Production (B). Consumption

(C). Distribution (D). All of these

4. Data collected from your school magazine is:

(A) Primary data

(B) Secondary data
(C) Unpublished data
(D) None of these

5. Read the following statements carefully and choose the correct alternative:
Statement 1: A discrete variable cannot take fractional value.
Statement 2: A discrete variable can also take fractional values.
(A) Both the statements are true.
(B) Both the statements are false.
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 (C) Statement 1 is true but statement 2 is false.
(D) Statement 2 is true but statement 1 is false.
6. _____________collect data related to demography.
(A) NSSO
(B) Census of India
(C) RBI
(D) Ministry of Railway
7. India has won one gold, two silver and four bronze medals in Tokyo Olympics. Which diagram is
suitable for representing this?
(A) Histogram
(B) Polygon
(C) Deviation bar diagram
(D) Sub-divided bar diagram
8. Read the following statements carefully and choose the correct alternative:
Statement 1: The sum of deviations from mean is zero.
Statement 2: Mean cannot be determined graphically.
(A) Both the statements are true.
(B) Both the statements are false.
(C) Statement 1 is true but statement 2 is false.
(D) Statement 2 is true but statement 1 is false.

9. In case of open-ended series, which one is calculated without making any changes in the series?
(i) Mean (ii) Mode (iii) Median
(A) I and II
(B) II and III
(C) I and III
(D) All of these
10 Which of the following average can be computed with the help of ogives?

(A) Median
(B) Mode
(C) Arithmetic mean
(D) Weighted mean

11 For ordering shoes of various sizes for resale, a ……… size will be more appropriate.

(A) Mean
(B) Median
(C) Mode
(D) Mean & Mode both

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12 Which economic problem involves selection of category of people who will ultimately consume the
goods?
(a) How to produce (b) For whom to produce
(c) What to produce (d) None of these
13 The statements like ‘Poverty in the economy ought to be reduced’ fall within the scope of
(a) Normative Economics (b) Positive Economics
(c) both (a) and (b) (d)None of these
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Which of following is a study of Micro Economics?

(A) Aggregate consumption

(B) National income
(C) Software Industry
(D) None of these

15 Microeconomics studies the economic activities of.......................................................units.

(A) Non-economic
(B) Scare
(C) Individual
(D) Limited

16. Indifference map refers to:

(A) Higher Indifference Curve

(B) Lower Indifference Curve
(C) Parallel Indifference Curve
(D) Family of Indifference Curves

17 From the following given sets of statements in column I and II, Choose the correct pair of statements.
Column I Column II
P Normal Good I Inverse relation between income
and demand
Q Inferior Good II Necessity goods
R More elastic demand III Positive relation between income
and demand
S Less elastic demand IV Goods having multiple uses
Alternatives
(A) P-III, Q-I, R-IV, S-II
(B) P-III, Q-I, R-II, S-IV
(C) P-I, Q-II, R-IV, S-III
(D) P-II, Q-III, R-IV, S-II
18. The additional utility derived from additional consumption is_____________.
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 (A) Total utility
(B) Average utility
(C) Marginal utility
(D) Usefulness
19. If the price of Pepsi rises then demand of coke will___________.
(A) Rise
(B) Fall
(C) Does not change
(D) Rise or fall
20. The condition of consumer’s equilibrium under IC approach is:
(A) Budget line and Indifference curve are tangent to each other
(B) IC is Convex
(C) Both A & B
(D) Neither A nor B
21. _________________ is the graph of frequency distribution.
(A) Bar diagram
(B) Pie diagram
(C) Sub divided bar diagram
(D) None of these
22. Median of series 9,15,20,25,30 is:
(A) 15 (B)20 (C) 30 (D)25
23. Read the following statements carefully and choose the correct alternative:
Statement 1: Statistics simplify complex data.
Statement 2: Statistics help in formulation of policies.
(A) Both the statements are true.
(B) Both the statements are false.
(C) Statement 1 is true but statement 2 is false.
(D) Statement 2 is true but statement 1 is false.
24. The opportunity cost of a machine which can produce only one product is:
(A) ZERO (B) ONE (C) LOW (D) HIGH

SECTION: B
(20 questions out of 24 questions are to be attempted)
25. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): There is always inverse relation between price and demand of commodity.
Reason (R): Law of demand is not applicable in all cases.
(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
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 Assertion(A)
(C) Assertion (A) is true but Reason (R)is false.
(D) Assertion (A) is false but Reason (R)is true.
26. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): A commodity with large number of substitutes shows high elasticity of demand.
Reason (R): A small rise in price of such commodity will induce the buyers to go for substitutes.
(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.
27. What will be the price elasticity of demand if demand increases from 200 units to 300 units and there
is 50% decrease in the price of the commodity?
(A) 0.5 (B)0.25 (C) 1.5 (D) 1
28. If with the decrease in price of one commodity, the demand of another commodity increases then both
the commodities are:
(A) Substitutes
(B) Complementary
(C) Not related to each other
(D) Normal goods
29. The coefficient of price elasticity of demand for a good is 0.2. When price was Rs. 10 per, unit the
quantity demanded was 40 units. If price falls to Rs. 5 per unit, how much quantity of it will be
demanded?
(A) 44 units (B) 50 units (C) 45 units (D) 55 units
30. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Opportunity cost is the value of the factor in the next best alternative use.

Reason (R): It refers to the loss of output of Good-Y when resources are shifted from the production
of Good-Y to the production of Good-X.
(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.
31. The mean of 40 observations is 32. If two observations 22 and 42 are deleted, then the mean of the
remaining observations is :
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 (A) 34 (B) 36 (C) 32 (D) none of these
32. Mean and Median of a series are 26.8 and 27.9 respectively, then the mode is:
(A) 29.1 (B) 30 (C) 30.1 (D) 32
33. Read the following statements carefully and choose the correct alternative:
Statement 1: Median has definite and certain value.
Statement 2: The extreme values of the series do not affect the median value.
(A) Both the statements are true.
(B) Both the statements are false.
(C) Statement 1 is true but statement 2 is false.
(D) Statement 2 is true but statement 1 is false.
34. Which of these statements is/are true?
(A) Mean provides laughable conclusions sometimes.
(B) Median divides the whole series into 2 equal parts.
(C) Mode of a series has the highest frequency value.
(D) All of these.
35. Ravi saves 20% of his salary. This value is represented by an angle of _______ degree at the Centre in
a pie diagram?
(A) 20o
(B) 36o
(C) 72o
(D) 144o
36. In which quadrant the value of X and the value of Y are negative?
(A) First (B) Second (C) Third (D) Fourth
37. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): Table is the Consequence of tabulation

Reason (R): Tabulation is systematic and logical presentation of numeric Data in row and columns.
(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.
38. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct
alternatives given below:
Assertion (A): A ‘less than ogive’ is drawn on the basis of lower limits and declining frequencies.

Reason (R): A ‘More than ogive’ is drawn on the basis of upper limits and increasing frequencies.
(A) Both Assertion (A) and Reason (R) are true.
(B) Both Assertion (A) and Reason (R) are false.
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 (C) Assertion (A) is true but Reason (R)is false.
(D) Assertion (A) is false but Reason (R)is true.
Look at the diagram carefully and answer the question follow (Q.No.39- 41):

39. Which diagram is depicted above?

(A) Bar diagram
(B) Polygon
(C) Histogram
(D) Frequency curve
40. Zigzag line on X axis is for:
(A) Showing values from 0 to 20
(B) Not showing values from 0 to 20
(C) Both A & B
(D) None of these
41. No. of teachers is the least of_______________ age group.
(A) 25-30
(B) 30-35
(C) 35-40
(D) 40-45
For visually challenged candidates (Q.No.39- 41)
39 In which diagram all the bars are joined to each other:
(A) Bar diagram
(B) Polygon
(C) Histogram
(D)Frequency curve
40. Why a kinked line is used on X Axis in a graphical presentation?
(A) To expand the space
(B) To make false base
(C) Both A & B
(D) None of these
41. The highest rectangle in histogram shows:
(A) Average frequency

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 (B) Lowest frequency
(C) Highest frequency
(D) All frequencies
42. The Mean of 1,3,5,6, K,10 is 6. The value of K is:

(A) 10 (B)11 (C) 12 (D) 13

43. Match the statements given under A with the correct options given under B

(A) (B)

(i) Plural sense a. Statistics as a method

(ii) Collection of Data b. Statistics as numerical set of Data

(iii) Distrust of statistics c. First step in a statistical enquiry

(iv) Singular sense d. Lack of confidence in statistical

methods and statements

(A) (i) – C , (ii) – B, (iii) – D , (iv) – A

(B) (i) – B , (ii) – C, (iii) – D , (iv) – A
(C) (i) – B , (ii) – C, (iii) – A , (iv) – D
(D) (i) – C , (ii) – D, (iii) – A , (iv) – B

44. The number of stages of statistical studies is

(A) 2 (B) 3 (C) 4 (D) 5

45. The median of series 5,10,15, R,25 is 15 Value of R is

(A) 20 (B)17 (C) 13 (D) EITHER 20 OR 17

46. When price of Pepsodent paste decreases then the demand curve of close-up paste will

(A) Shift rightwards

(B) Shift leftwards
(C) Not change
(D) Either A or B

47. The horizontal demand curve parallel to X- axis has ________ elasticity of demand.

(A) Unitary
(B) More than unitary
(C) Less than unitary
(D) Infinity

48. Ramesh have 3 options of a job, offering him a salary of Rs. 20,000 , Rs. 25,000 and Rs. 30,000
respectively. What is Rahul’s opportunity cost?

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 (A) 20,000 (B) 25,000 (C) 30,000 (D) 45,000

Section – C

(10 questions out of 12 questions are to be attempted)

Read the following extract and find the answers of the following questions:

Central tendency is the numerical method to explain the data in brief. The measuring of
central tendency is a way of summarizing the data in the form of a typical or
representative value. There are several statistical measures of central tendency or
averages. The three most commonly used averages are: Arithmetic Mean, Median,
Mode. Arithmetic Mean is the most commonly used measure of central tendency. It is
simple to calculate and is based on all the observations but it is unduly affected by the
extreme items. It is defined as the sum of the values of all observations divided by the
number of observations. Median and Mode are positional averages. Median is that
positional value of the variable which divides the distribution into two equal parts
whereas Mode is the most frequently observed data value. Median and Mode are
generally used to describe the qualitative data.
49. Which of these is not a positional average?

(A) Mean (B) Median (c) Mode (D) All of these

50. __________ and ___________ can be computed graphically.

(A) Mean, Median

(B) Mean, Mode
(C) Median, Mode
(D) None of these

51. The measures of central tendency are:

(A)Mean (B) Mode (c) Median (D) All of these

52. If the sum of observations is 5 times of number of observations, then mean value is:

(A) 5 (B) 15 (C) 50 (D) 20

53. Which statement is not correct?

(A) 50% values are larger than Median value in a series

(B) 50% values are smaller than Median value in a series
(C) Mode is the largest value in the series
(D) None of these

54. Central tendency provides representative value of a data series.

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 (A) True
(B) False
(C) Both A & B
(D) Neither A nor B

Read the following hypothetical text and answer the given questions:
Robert (सवारी )Rides (कुल उपयोगिता)Total Utility (utils) spends a day
riding the monster
0 0
loop roller coaster
1 11
at the shady valley
2 20 Amusement
Park, 3 27 then records
the 4 32 amount of total
utility achieved at the
5 35
end of each ride. The
2 6 36 columns
7 35 presented in
the table 8 32 measure the
number of rides and
the total utility accumulated by Robert at the end of each ride (in utils). He pays $1 for each ride and
his marginal utility of money is constant.

55. The measuring unit of total utility and marginal utility is:

(A) Always same

(B) Always different
(C) Sometimes same
(D) Both A & C

56. The marginal utility of riding by Robert is diminishing which means:

(A) Riding at intervals

(B) Riding after taking some rest
(C) Continuous riding
(D) No riding

57. Why does his marginal utility of riding decrease?

(A) Due to law of demand

(B) Due to law of supply

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 (C) Both A & B
(D) Neither A nor B

58. What is the marginal utility of 8th ride?

(A) 4 (B)3 (C) -4 (D) -3

59. After how many rides Robert strikes his equilibrium?

(A) 5th
(B) 6th
(C) 7th
(D) 8th

60. Which is the condition of equilibrium in the above case?

MUx MUy
(A) =
Px Py
(B) MUx> Px
(C) MUx< Px
(D) MUx=Px

*****END OF PAPER****

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