DELHI PUBLIC SCHOOL NACHARAM

MOCK TEST PAPER

ECONOMICS
TIME: 3 HOURS M.M. – 80

GENERAL INSTRUCTIONS:

1. This question paper contains two sections: Section A – Statistics for Economics, Section B – Introductory
Microeconomics

2. This paper contains 20 Multiple Choice Questions type questions of 1 mark each.

3. This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered in 60 to
80 words.

4. This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered in 80 to
100 words.

5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be answered in 100 to
150 words.

Section A – Statistics for Economics MM

Q. 1 Assertion (A): Housewife working in the house is termed as non-economic activity. 1M
Reason (R): There is no monetary gain or salary paid to the housewife for working in
the house.
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R are true but R is not the correct explanation of A.
(c) A is true but R is false.
(d) A is false but R is true.
Q. 2 The best way to collect data, in case of natural calamity, is: 1M
(a) Personal Interview
(b) Indirect Interview
(c) Questionnaire Method
(d) Direct Observation Method
Q. 3 X̅ = __________ 1M
Q. 4 Which of the following is not a graphical method of presenting data? 1M
(a) Bar diagram
(b) Pie chart
(c) Histogram
(d) Frequency polygon
Q. 5 1M

Q. 6 Assertion (A): As the sample size increases variable tends to become close to census 1M
values.
Reason (R): Samples are always collected from different groups of heterogeneous
data randomly.
(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, but 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. 7 Choose the incorrect statement from the given below: 1M
(a) In a continuous frequency distribution, class interval should be equal
(b) In an exclusive continuous frequency distribution, upper limit of the class is
excluded from the class
(c) In an inclusive continuous frequency distribution, upper limit of the class is
excluded from the class
(d) In an open-ended continuous frequency distribution, extreme class limits are
missing
Q. 8 Statistics is concerned with: 1M
(a) Qualitative Information
(b) Quantitative Information
(c) Either (a) or (b)
(d) Both (a) and (b)
Q. 9 The weight of coffee in 70 packets are shown in the following table. The Modal 1M
weight is_________:
Weight (in 50-100 100-150 150-200 200-250 250- 300-350
gm.) 300
No. of Packets 12 26 20 9 2 1

(a) 50-100 (b) 150-200 (c) 100-150 (d) 300-350

Q. 10 Read the following statement given the and choose the correct alternative 1M
Statement 1- Resources are always limited in relation to human wants.
Statement 2- Not all the resources have alternative uses
 (a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Q. 11 Find out Class interval from the following Mid-Value series. Calculate Arithmetic 3M
Mean from the table given below.
Mid-Value 5 10 15 20 25 30 35 40
No. of students 5 7 9 10 8 6 3 2
Q. 12 Out of total number of 620 parents, who applied for admission of their child in a 3M
school, 130 belong to EWS (Economically Weaker Section) category. In the general
category, 40 parents are of service class, 190 are self-employed and remaining are of
business class. In the EWS category, 94 parents belong to service class. If total
business class applicants are 300, then tabulate the given information.
OR
What are the Essential Parts of a Table?
Q. 13 Following are the wages of worker. Calculate Arithmetic Mean using Assumed Mean 4M
Method.
Wages No. of workers
Less than 10 5
Less than 20 20
Less than 30 45
Less than 40 70
Less than 50 80
Less than 60 88
Less than 70 98
Less than 80 100
Q.14 Draw a Pie diagram from the following data: 4M
Item of expenditure food Fuel Cloth Misc.
Total expenditure (in Rs.) 480 360 240 120
Q. 15 Calculate median from the following figures: 4M
Class-intervals 10−29 30−39 40−49 50−59 59−60 60−69
Frequencies 12 19 20 21 15 13

OR
Find out mode from the following data:
Class-Interval 0−5 5−10 10−15 15−20 20−25 25−30 30−35 35−40
Frequency 5 7 15 18 16 9 6 3
Q. 16 Calculate the correlation coefficient between X and Y. 6M

OR
Calculate the Spearman’s Rank Correlation for the following data.

Mathematics 14 15 17 12 16 11 18 9 10
 Accountancy 4 12 8 10 2 5 9 3 7

Q. 17 Calculate the index numbers from the following data using: 6M

(i) Laspeyre's method,
(ii) Paasche's method
(iii) Fisher's ideal method:
Items 2004 2018
Quantity Price Quantity Price
(Units) (Rs.) (Units) (Rs.)
A 8 100 10 120
B 4 60 5 80
C 10 20 12 25
D 12 25 15 30
E 3 5 4 6
Section B – Introductory Microeconomics
Q.18 Under which market homogeneous products are found? (choose the correct 1M
alternative)
(a) Perfect Competition Market
(b) Monopoly Market
(c) Monopolistic Competition Market
(d) Oligopoly Market.
Q.19 Supply curve shifts forward due to: 1M
(a) decrease in price of competing product
(b) decrease in factor price
(c) increase of firms in the market
(d) all of these
Q.20 As long as MR is positive, TR will: 1M
(a) Increase
(b) Decrease
(c) Be Maximum
(d) Remain same
Q.21 Law of supply states that, other things remaining constant, the quantity of any 1M
commodity that firms will produce and offer for sale ____with a rise in price and ____
with a fall in price.
(a) rises, rises
(b) falls, rises
(c) rises, falls
(d) falls, falls
Q.22 Identify the correct sequence of alternatives given in column II by matching them 1M
with respective terms in column I.
Column – I Column – II

A – Movement along the demand curve i) Decrease in demand

B – Shift in the demand curve ii) Extension in demand

 C – Normal Goods iii) Negative income effect

D – Inferior Goods iv) Positive income effect

Options
a) A – ii, B – i, C – iv, D – iii
b) A – iii, B – ii, C – i, D – iv
c) A – i, B – iii, C – ii, D – iv
d) A – iv, B – ii, C – iii, D – i

Q.23 When the percentage change in quantity demanded is greater than the percentage 1M
change in price of the commodity, the demand for the commodity is said to be
(a) perfectly elastic
(b) unitary elastic
(c) inelastic
(d) elastic
Q.24 Budget Line Formula M = _________________ 1M
(a) M=(Px * x) + (Py * y)
(b) M=(Px * y) + (Py * x)
(c) M=(Pxy) * (Pyx)
(d) M=(Px-x) – (Py-y)
Q.25 If MOC remains constant, PPF is __________ sloping straight line. 1M
(a) Upward
(b) Downward
(c) Central
(d) Behind
Q.26 Read the following statements: Assertion (A) and Reason (R). Choose one of the 1M
correct alternatives given below:
Assertion (A): A firm is at equilibrium when MR = MC and beyond that level of
output, MC must be falling
Reason (R): MC curve should cut MR curve from below to achieve Producer’s
Equilibrium.
Alternatives:
(a) Both Assertion and Reason are true and Reason (R) is the correct explanation of
Assertion (A)
(b) Both Assertion and Reason 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.27 If many sellers are selling an identical product, what is the implication of this 1M
scenario?
(a) Significant losses for all the sellers
(b) The market supply curve is horizontal
(c) Chaos in the market
(d) The sellers do not have the power to change the price of a product
Q.28 Distinguish between positive economics and normative economics. Give an example 3M
of each.
Q.29 Explain with diagram the difference between increase in demand and increase in 3M
quantity demanded of a good.
OR
State any three factors that influence the demand for a commodity.
Q.30 A consumer consumes only two goods X and Y. Marginal utilities of X and Y are 3 and 4M
4 respectively. Price of X and price of Y is Rs. 4 per unit. Is consumer in equilibrium?
What will be further reaction of the consumer? Give reason.
OR
Define consumer equilibrium. Explain consumer Equilibrium under I C approach
Q.31 What are the degrees of Elasticity of Demand? Explain with help of diagram. 4M
Q.32 State whether the following statements are true or false. Give reasons for our
answers:
(a) The difference between Average Cost and Average Variable Cost is always 2M
Constant.
(b) With increase in the level of output, AFC goes on falling till it reaches zero. 2M
Q.33 (a) Consider the following demand and supply function of a commodity: 3M
Qd= 200-P; Qs =120+P
(i) Calculate Equilibrium Price.
(ii) Calculate Equilibrium Quantity.
(iii) What situation will arise if market price is Rs. 25
(b) What will happen if the price prevailing in the market is: 3M
(i) Above the equilibrium price
(ii) Below the equilibrium price
OR
Explain the process of price determination through price floor policy adopted for 6M
agricultural goods. Use suitable diagram.
Q.34 (a) What is Total Product and Marginal Product? State the relationship with Total 3M
Product and Marginal Product with help of a single diagram.
(b) In which phase of Law of Variable Proportion, a rational producer will operate and 3M
why?