CBSE Class 11 Economics Question Paper Set 23 Solved

PART A – MICRO ECONOMICS

1 Expansion of demand is due to: (choose the correct alternative)

A. Increase in price of substitute good.
B. Increase in income of the consumer.
C. Decrease in price of complementary good.
D. Decrease in price of the good.

2 A budget line of the consumer becomes steeper (slope increases) when: (Choose the correct alternative)

A. Income of the consumer decreases
B. Price of good1 increases
C. Price of good 1 decreases
D. Prices of both good1 and good2 increase in the same proportion

3 Define Marginal Opportunity Cost.

OR

Define Marginal Rate of Substitution.

4 What can you say about Marginal Product when Total Product is maximum and constant?

OR

What happens to Total Fixed Cost when firm increases the level of output?

5 Discuss the nature of Total Revenue curve of a firm if the firm is functioning under a perfectly competitive market.

OR

Discuss the implication behind the feature of ‘perfect freedom of entry and exit’ of firms under perfect competition.

6 A firm supplies 500 units of a good at a price of Rs.20 per unit. Its price elasticity of supply is 2. At what price will this firm supply 400 units?

7 Using suitable diagram explain the effect on demand for a good when:
a. Price of its substitute good falls.
b. Price of its complementary good falls.

8 Discuss the nature of Average Revenue and Marginal curves of a firm under conditions of perfect competition. Explain with reasons and diagram.

9 Define Marginal Rate of Transformation. How does it influence the shape of production possibility curve? Show with diagrams.

OR

Define a Production Possibility Curve. How does it explain the problem of choice? Explain using a diagram.

10 In the recent budget government decided to fix a floor price of Wheat by 40% above the market price. What could be the purpose behind this policy? What are the possible consequences of the policy? Explain using a diagram.

OR

Consider the market for Tea in terms of its market price and quantity exchanged. Explain the possible impact on its market price and quantity exchanged when market price of coffee rises. Use diagram.

11 Briefly explain the theory of optimal choice of the consumer using budget line and indifference curve.

12 A firm is increasing the employment of a variable input keeping the employment of all other inputs constant. What could be the impact on Its Marginal Product and Total Product? Explain the impact in three stages with diagram.

PART B – STATISTICS

13 State one difference between a discrete variable and a continuous variable

OR

How is chronological classification different from Spatial classification of data

14 Interpret the value of ‘r=+1’ in the case of coefficient of correlation.

OR

Interpret the result if all the dots in a scatter diagram lie on an upward sloping straight line.

15 Statistical calculation of a classified data is based on: (Choose the correct alternative)

A. Actual values of observations
B. The upper class limits
C. The lower class limits
D. The class mid points

16 State one advantage of arithmetic mean over median 

17 Calculate Arithmetic Mean for the following distribution

Calculate First Quartile, Second Quartile and Third Quartile for the following distribution

18 The subject economics involves the study of man engaged in economic activities of various kinds. These economic activities are broadly classified under three heads. What are these? State with meaning.

19 The most common type of instrument used in surveys to collect information or data is questionnaire. The success of any statistical investigation is determined by the quality of the questionnaire and the response that evoke from the respondents. What are the essential characteristics of a good questionnaire?

OR

It is stated that ‘Non Sampling errors’ are more serious than ‘Sampling errors’. Why? What are the possible non sampling errors? Explain with meaning.

20 Find product moment correlation using the method of Karl Pearson’s coefficient of correlation for the following data related Values of X and Values of Y.

21 Draw a pie diagram for the following information regarding expected expenditure allocated for the different sub-sectors of Primary sector of the economy in the recent budget.

Sectors              Expenditure (Rs. Crores)

Agriculture                      1400
Animal Husbandry           1250
Fisheries                          700
Forestry and Logging        600
Mining and Quarrying      1050

22 Calculate the value of Mode and locate the same on a graph and verify the result.

23 Calculate Standard Deviation and its coefficient

Calculate Mean Deviation from median and its coefficient for the following distribution

24 Calculate Index numbers for the year 2010 considering 2005 as the base year using the following methods:

a. Laspeyer’s Method.
b. Paasche’s Method.

Please click on below link to download CBSE Class 11 Economics Question Paper Set W Solved