MEDI-CAPS INTERNATIONAL SCHOOL, INDORE

SAMPLE PAPER HALF YEARLY EXAMINATION 2023-24

Time : 3 Hrs CLASS : XI SUBJECT : ECONOMICS M.M:80
General Instructions:
i) Total Number of Questions :34
ii) Total Number of Printed pages :04
iii) This question paper contains two sections: Section A – Micro Economics Section B – Statistics for Economics
iv) This paper contains 20 Multiple Choice Questions type questions of 1 mark each.
v) This paper contains 4 Short Answer Questions type questions of 3 marks each to be answered in 60 to 80
words.
vi) This paper contains 6 Short Answer Questions type questions of 4 marks each to be answered in 80 to 100
words.
SECTION-A (MICRO ECONOMICS)
1. The law of scarcity- 1
a) Does not apply to rich, developed countries
b) Applies only to the less developed countries
c) Implies that consumers want will be satisfied in a socialist system
d) Implies that consumer’s wants will never be completely satisfied
2. Ramesh is working at a salary of Rs. 35,000 per month. He receives two job offers: (i) To work as an 1
accountant at a salary of Rs. 30,000 per month; (ii) To work as a sales manager at a salary of Rs.
25,000 per month. In the given case, his opportunity cost will be-
a) Rs. 25,000 b) Rs. 30,000 c) Rs. 35,000 d) Rs. 65,000
3. When we add up utility derived from consumption of all the units of the commodities, we get- 1
a) Total Utility b) Initial Utility c) Marginal Utility d) None of these
4. Indifference Map refers to- 1
a) Highest Indifference Curve b) Lowest Indifference Curve
c) Family of Indifference Curve d) None of these
5. ______ goods are those goods which can be used in place of one another for satisfaction of a 1
particular want.
6. Which of the following will have elastic demand- 1
a) Matchbox b) NCERT Textbooks c) Medicines d) Air conditioners
7. In the long run, all factors of production are variable. (TRUE/FALSE) Answer with reason. 1
8. “Salary of permanent staff” is which type of cost? 1
a) Variable and Implicit Cost b) Fixed and Implicit cost
c) Fixed and Explicit cost d) Variable and Explicit cost
9. If total revenue is Rs. 1,00,000 when 20,000 units are sold, then average revenue is equal to- 1
a) Rs. 1,00,000 b) Rs. 20,000 c) Rs. 5 d) Rs. 1,20,000
10. Excess of receipts from sale of goods over expenditure incurred on producing them is termed as- 1
a) Average Revenue b) Revenue c) Profits d) Marginal Revenue
11. What is meant by Variable Factor and Fixed Factor? Give 1 example of each. 3
OR
Define the following terms: i) Total Product ii) Average Product iii) Marginal Product
12. “Producer is also not in equilibrium when Marginal revenue is more than Marginal cost.” Comment. 3
13. A country produces two commodities: Tanks and Butter. Its production possibilities are shown in the 4
following table-
Possibility A B C D E F
Tanks (in units) 20 14 9 5 2 0
Butter (in units) 0 1 2 3 4 5
i) Calculate Marginal rate of transformation (MRT);
ii) Construct a PPF with the help of the given schedule.
14. From the following data, determine TR, AR and MR- 4
Units Sold 10 9 8 7 6 5
Price (Rs.) 10 20 30 40 50 60
15. From the following table, find out the level of output at which the producer will be in equilibrium. Give 4
reason in support of your answer.
Output (Units) Marginal Revenue (Rs.) Marginal Cost (Rs.)
1 8 10
2 8 8
3 8 7
4 8 8
5 8 9
OR
A producer is producing output at which MC=MR. However, if he produces more, then MC becomes
less than MR. Is he in equilibrium? Use Diagram.
16. Explain why Indifference curve is convex to the origin? 6
17. The details about total variable cost (TVC) of a firm is given. The total fixed cost (TFC)at all level of 6
output is fixed at Rs. 60. On the basis of this data, calculate TC.
Output (Units) 0 1 2 3 4 5 6
TVC (Rs.) 0 30 40 45 55 75 120
OR
Define the given terms along with its diagram – i) Total Fixed Cost,ii) Total Variable Cost,iii) Total Cost
SECTION-B (STATISTICS FOR ECONOMICS)
18. The proper us of statistics can be made by- 1
a) Cheats b) Everyone c) Experts d) Common man
19. Distrust of statistics is due to- 1
a) Misuse of statistics b) Insufficient statistical methods
c) Scope of statistics is limited d) Limitations of Statistics
20. Which data is collected by the Investigator himself? 1
a) Primary b) Secondary c) Both (a) and (b) d) None of these
21. Primary data is preferred over secondary data where- 1
a) Time available is short b) Accuracy is important
c) Sufficient finance is not available d) Much accuracy is not required
22. After every ten years, information regarding population of India is collected through- 1
a) Census b) Sample c) Both (a) and (b) d) None of these
23. Stratified sample is preferred when- 1
a) Population is perfectly homogenous
b) Population is non-homogeneous
c) Random sampling is not possible
d) Small samples are required
24. Read the following statements carefully: Assertion (A) and Reason (R). Choose the correct alternatives 1
given below:
Assertion (A) – In case of inclusive series, the value of upper limit of a class never equals the value of
lower limit of the next class.
Reason (R)- Class frequencies are same in both exclusive and inclusive series, although the class-
intervals are apparently different in the two cases.
In the light of the given statements, choose the correct alternative from the following:
a) Both (A) and (R) are true and (R) is the correct explanation of (A).
b) Both (A) and (R) are true and (R) is not the correct explanation of (A).
c) (A) is true but (R) is false.
d) (A) is false but (R) is true.
25. A frequency distribution can be- 1
a) Discrete b) Continues c) Both (a) and (b) d) None of these
26. Number of students in different sections of class XI will be shown by- 1
a) Treble Table b) Double Table c) Simple Table d) Manifold Table
27. Treble Table presents ________ characteristics. 1
Two b) Three c) More than two d) Four
28. State whether the following statements are True and False- 3
i) Any Single numerical figure is statistics.
ii) Statistics makes the complicated data simple and intelligible.
iii) In singular sense, Statistics means a collection of numerical facts.
29 Identify the ‘Method of Classification’ from the following statements- 3
i) When data is classified on the basis of descriptive characteristics.
ii) When data is classified on the basis of some characteristics which can be measured.
iii) When data is classified with respect to different periods of time.
iv) When the data is classified according to regions.
OR
Prepare a frequency distribution by inclusive method taking class-interval of 7 from the following data-
28 17 15 22 29 21 23 27 18 12 7 2 9 4 1
8 3 10 5 20 16 12 8 4 33 27 21 15 3 36
27 18 9 2 4 6 32 31 29 18 14 13 15 11 9
7 1 5 37 32 28 26 24 20 19 25 19 20 6 9
30. Distinguish between Statistics in Singular sense and Statistics in Plural sense. 4
31. What is meant by Direct personal investigation? Give its merits and demerits. 4
32. Tabulate the given information- 4
i) In 2021, out of total of 1,500 applicants in a college, 900 were from commerce background. The
number of girls was 600, out of which 230 were from science stream.
ii) In 2022, the total number of applicants was 2,500 of which 1,800 were boys. The number of
students from science stream was 1,600 of which 450 were girls.
OR
What is the main difference between two-way table, three-way table and manifold table.
33. In a survey it was found that 64 families bought milk in the following quantities in a particular month. 6
Prepare a frequency distribution with classes as 5-9, 10-14 etc.
19 16 22 9 22 12 39 19 6 24 16 18 7 17 20 25
10 24 20 21 10 7 18 28 14 23 25 34 22 14 33 23
13 36 11 26 11 37 30 13 22 21 32 21 31 17 16 23
15 27 17 21 23 14 24 8 9 15 29 20 18 28 26 12
34. Write a short note on: i) Census of India ii) National Sample Survey Organisation. 6
OR
What do you mean by census method? Give its merits and demerits.