Class – XI Integrated Worksheet : Ch-1 (Introduction) Subject –Economics
Level 1
Q 1 Read the following hypothetical text and answer the given questions 3,4:
In reality, all economies are mixed economies where some important decisions are taken by
the government and the economic activities are by and large conducted through the
market. The only difference is in terms of the extent of the role of the government in
deciding the course of economic activities. In the United States of America, the role of the
government is minimal. The closest example of a centrally planned economy is the China
for the major part of the twentieth century. In India, since Independence, the government
has played a major role in planning economic activities. However, the role of the
government in the Indian economy has been reduced considerably in the last couple of
decades.
a).Whether the following statement is True or false:
“A centrally planned economy has been followed by India in the last two decades”.
b) Economy may be classified as:
a. Capitalist (b) socialist (c) mixed (d) all of these
Q 2 The cost of next best alternative foregone is 1
called as .------ (Fill up)
Fill in the blank with correct
alternative-
A Opportunity cost
B Marginal rate of substitution
C Marginal rate of transformation
D None of the above
Level 2
Q1.Match the following and choose the correct alternative:
1. Central Problem (a)Technique of production
2. What to produce (b)Distribution of output
3. How to produce (c)Problem of choice
4. For whom to produce (d)Which goods are to be produced
(I) (c); (ii) (a); (iii) (b); (iv) (d)
(II) (d); (ii) (a); (iii) (b); (iv) (c)
(III) (c); (ii) (b); (iii) (a); (iv) (d)
(IV) (c); (ii) (d); (iii) (a); (iv) (b)
Q2. India should take steps to control the rising population. It is an example of ----------
statement.
(Positive / Normative )
Q3 Explain with the help of diagram impact of foreign investment on PPC.
Level 3
Q 1 Assertion(A): ‘Both, microeconomics and macroeconomics have same degree of
aggregation’.
Reason(R): Micro economics involves limited degree of aggregation and Macroeconomics
involves the highest degree of aggregation.
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
e.
Q2. Two production possibilities curves can intersect each other when: (1)
a) Production conditions turn favourable for production of both the goods.
b) Production conditions turn unfavourable for production of both the goods.
c) Production conditions turn favourable for production of one good and unfavourable for the
other good.
d) None of these.
Q3. What is likely to be the impact of efforts towards reducing unemployment on the production
potential of the economy? Explain. (3)
Q4. If more and more resources are constantly explored and new and new techniques of production are
constantly discovered, don’t you think a day will come when our central problems will be solved once
for all? (3)
Q5*. Growth and equity are often found to be conflicting issues while addressing the problem of ‘how to
produce’. Explain. (3)
Q6. Explain with reason the effect of the following situations on Production Possibility curve of Bihar if:
(6)
a) River Kosi causes widespread floods
b) Workers in industries went on strike resulting in industrial lockouts
c) Emmigration of people from Bihar to Delhi
d) Expenditure by CM on employment generation programmes
e) Discovery of new coal reserves
f) Expenditure on research, education and training by government
