Cambridge School Indirapuram

Final Term Exannination

Class 11
Economics

Time: 3 hours
Maximum Marks: 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
answered in 60 to 80 words.
questions of 3 marks each to be

4. This paper contains 6 Short Answer Questions type

answered in 80 to 100 words. questions of 4 marks each to be
5. This paper contains 4 Long Answer Questions type questions of 6 marks each to be
answered in 100 to 150 words.
Q.No Section A- Statistics for Economics Marks

1. Read the following statements carefully: -

Statement 1- Economic activities are those activities in which money is (1)
Statement 2- The government and earned.
policymakers use statistical data to formulate
suitable policies for economic development.
In light of the given statements, choose the
correct alternative from the
following:
a) Statement 1 is true and statement 2 is
false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statementsland 2 are false
2 The relation between speed and time is
(1)
a) inverse
c) no relation
b) positive
d) none of these
3. The graphical representation of two
a) Scatter Diagram variables is known as (1)
b) Karl Pearson coefficient of
c) correlation
Spearman's coefficient of correlation
d) None of these
 4. The value of the
coefficient of correlation lies between and
5. 1f you are taking data from Business today, then it will be
a) Primary data called (1)
b) Secondary data
c) Homogeneous data
d) Heterogencous data
6. If ateacher makes her
case of favorite student, the Head boy of the school, then is
this a(1)
7
sampling.
a) Quantitative classification is classified on the basis of area. (1)
b) Qualitative
c) Spatial
d) Temporal
8. What is meant by
continuous variables?
9 Read the following (1)
correct alternatives statement -Assertion (A) and Reason (R). Choose one of
given below: the (1)
Assertion (A)- When data is classified on the
distribution is known as univariate basis of a single
frequency distribution. variable, the
Reason (R): When data is classified on
the basis of two
distribution is
known bivariate frequency
as variables. The
Alternatives:
a) Both
distribution.
Assertion (A) and Reason (R) are true, and
explanation of Assertion (A).
b) Both Assertion (A) and
Reason (R) is the correct
explanation of Assertion (A).Reason (R) are true, and Reason (R) is not the correct
c) Assertion (A) is
d) Assertion (A) is true, but Reason (R) is false.
10 Read the following false, but Reason (R) is true
statement -Assertion (A) and Reason (R).
correct alternatives are Choose one of the(1)
Assertion (A): A variablegiven below:
refers to attribute whose value does
Reason (R): Range is the difference between the largest value not changes.
value. and smallest
a)Alternatives:
Both Assertion (A) andReason (R) are true and Reason (R) is the
explanation
b)
of Assertion (A). correct
Both Assertion (A) and Reason (R) are
explanation of Assertion (A). true and Reason (R) is not the
c) Assertion (A) is true but
correct
) Assertion (A) is false butReason (R) is false.
11| Calculate index of industrial Reason (R) is true.
Industry production:
Output in Output in 2016 3)
2011 Weights
Mineral Production 125 190
Chemical Production 80 140
35
Electrical Products 170 272
40
10
 Textile 220 308 |15
(3)
tFind he missing frequency from the following data:
Marks 40-50 50-60
0-10 10-20 20-30 30-40
No. of 20 20 10
15
students

The arithmetic mean is 34 marks.

(4)
13{ Discuss the qualities of a good questionnaire. (4)
14 Explain different parts of a table.
15 Calculate Spearman's rank coefficient of correlation from the following data: (4)
Price 75 88 70 60 80 81 50
95
of tea
Price 120 134 150 115 110 140 142 100
of
coffee
16 Calculate mode bY grouping method:- (6)
Size() |8 9 |10 11 12 13 |14 15
Frequency5 6 7 98 9 6
17 Why is Fisher's index is called an ideal index? Show that Fisher's index satisfies
Time Reversal and Factor Reversal Test. (6)
Commodity Price in the Quantity Price in the Quantity in the
base year in the current year current year
base year
A 10 30 12 50
B 10 25
6 20 6 30
4 10 6 20

SECTIONB - Introductory Microeconomics

18 What is meant by an economy? (1)
19.Read the following statements carefully. (1)
Statement 1: Indifference curve is upward-sloping.
Statement 2: The slope of the indifference curve is known as marginal
opportunity cost.
In light of the given statements, choose the correct alternative:
a) Statement l is true and statement 2 is false
b) Statement 1is false and statement 2 is true
c) Both statements l and 2 are true
d) Both statements 1 and 2 are false

20. Define budget constraint.

21. What is meant by marginal revenue? (1)|
22 What is the shape of AFC?
(1)
23 Read the following statements carefully. (1)
Statement 1: Fixed cost is constant even when output is zero.
 Statement 2: Fixed cost must be greater than variable cost when output is zero.

In light of the given statements, choose the correct alternative:

a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements l and 2 are true
d) Both statements 1 and 2 are false

24 Read the following statements carefully. (1)

Statement 1: Marginal cost includes both fixed cost and variable cost.
Statement 2: Marginal cost is an inverse S-shaped curve.

In light of the given statements, choose the corect alternative:

a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false

25. State law of variable proportion. (1)

26. Read the following statement -Assertion (A) and Reason (R). Choose one ofthe
correct alternatives are given below:
Assertion (A): Average cost is a U-shaped curve.
Reason(R): The shape of the average cost curve depends on the law of variable
proportions.

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.
) Assertion (A) is false but Reason(R) is true.
27 Read the following statement -Assertion (A) and Reason (R). Choose one of the (1)
correct alternatives given below:
Assertion (A): In perfect competition, the industry is a price taker and the firm is
aprice maker.
Reason- In perfect competition, there are a large number of buyers and sellers.
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.
28. Interpret the given picture on account of economic problem. (3)
 WANT NEED

Suvival
Entertainment

price of product X ist 2. Ifthe (3)

If the Marginal utility of good X is 10 and the
29
product Y is 4. Is the consumer
marginal utility of good Yis 12 and the price of situation?
in equilibrium?How will the consumer react in this to 19 per unit, its quantity(4)
30. When the price of a good increases from
15 per unit
price clasticity of
supplied increases from 75 units to 95 units. Calculate the
supply.
31. Explain any two properties of indifference curve. following information
From the
32. What is meant by the producer's equilibriun? in terms of marginal revenue and (4)
about a firm, find the firm's equilibrium output
marginal cost. Give reasons and also find profit at this output.
Total Revenue Total cost
Output
(units) ()
6 7
2 12 13
3 18
24 22
5 30 28
6 36 35

33. What kind ofsupply shock do you expect in the market when the rice crop is (6
severally danaged by the drought? How will the market adjust itself to the supply
shock? What suggestions would you offer to tackle the problens arising out of
the supply shock?
34.
Read the following text carefully and answer the given questions on the basis of
the same and common understanding:

Substitute goods are similar products that a customer may use for the same
purpose. Your customers may choose the product they prefer if it's available and
consider substitutes if the price, availability or quality of their preferred product
changes. These changes also oflen influence the demand for an item. A substitute
 identical
good may be perfect or imperfect. A pcrfect substitute is a product that's but
to the original item, while an imperfect substitute is a product that's similar may
noticcably different from the original good. Customers who
1Ckarcnase butter
use margarine as a substitute In cooking and baking eof butter rises,
the demand for it may decrease while the demand for margarine may increase.
For example, if a customer is planning to bake a batch of cookies and needs a few
sticks of butter, they may purchase margarine if the price of butter is higher than
expected. Many publishers release books in hardcover, paperback, and e-book
fomats. Since physical books and e-books typically contain the same
information, customers may substitute one for the other. For examplc, if a
physical book costs $10 more than ane-book, a price-conscious customer may
purchase the digital version. Tuna and salmon are popular types of fish that
customers may purchase fresh or canned. While the two kinds of fish have
different flavors, customers may substitute one for the other in various recipes. If
the price of salmon goes up, the demand for tuna might rise as customers begin
substituting.
Minivans and SUVs are automobiles that customers often substitute for one
another. They're structurally similar and serve the same purpose of transporting
people and cargo. Price is often an important factor that customers consider when
deciding which type of vehicle to purchase.
(a) Explain the relationship between Salmon and Tuna? (3)
(b) What are the different types of substitute goods? (3)