VINDHYACHAL ACADEMY , KOLAR ROAD , BHOPAL M

Term -2 (SESSION 2024 - 25) .

CLASS XI – ECONOMICS M
TIME:-1HR 20 MIN 80
General Instructions :
1. This question paper contains two sections
Section A- Microeconomics Section B- Statistics
2. This paper contains 20 Multiple Choice Questions of 1 Mark
each.
3. This paper contains 4 Short Answer Questions of 3 Marks each
to be answered in 60 to 80 words.
4. This paper contains 6 Short Answer Questions of 4 Marks each
to be answered in 80 to 100 words.
5. This paper contains 4 Long Answer Questions of 6 Marks each
to be answered in 100 to 150 words.
SECTION A(MICRO-ECONOMICS)
1. In which situation, can PPC be a straight line: 1
a) When MRT is decreasing b) When MRT is increasing
c) When MRT is constant d) None of these

2. Assertion(A): Cross demand is positive in the case of 1

substitute goods.
Reason(R): A drop in demand for particular commodity
results from an increase in the price of substitute
 commodities.

a) Both Assertion (A) and b) Both Assertion (A) and

Reason (R) are true and Reason (R) are true and
Reason (R) is the correct Reason (R) is not the correct
explanation of Assertion (A). explanation of Assertion (A).

c) Assertion (A) is true but d) Assertion (A) is False but

Reason (R) is False Reason (R) is True

3. Assertion: luxury goods often have high price elasticity of 1

demand.
Reason: When price of luxury goods increase then their
demand falls considerably as they are put
to urgent uses only.
a) Both Assertion (A) and b) Both Assertion (A) and
Reason (R) are true and Reason (R) are true and
Reason (R) is the correct Reason (R) is not the correct
explanation of Assertion (A). explanation of Assertion (A).

c) Assertion (A) is true but d) Assertion (A) is False but

Reason (R) is False Reason (R) is True
4. Which of the shaded area in the diagrams below represent 1
total utility ?

a) b)

d)
c)

5. The firm and the industry are one and the same in 1
____________
a) Perfect competition b)monopolistic competition
c)duopoly d) monopoly

6. The individual demand and supply functions of a product 1

are given as: Dx=10-2Px,Sx=10+2Px, where Px stands for
price and Dx and Sx respectively stands for quantity
 demanded and quantity supplied. If there are 4,000
consumers and 1,000 firms in the market, then equilibrium
price will be :
a) Ruppe 4 b) Ruppe 4.25
c) Ruppe 3 d) Ruppe 5
7. Maximum Price Ceiling leads to a situation of: 1
a) Excess Demand b) Excess Supply
c) Either (a) or (b) d) Neither (a) nor (b)
8. Demand curve of perfectively competitive market form is a 1
horizontal straight line parallel to X-axis. It happens because
:
a) Selling costs are zero b) There is freedom of entry
and exist
c) Firm is a price taker d) None of these
9. The Indian Government imposed heavy taxes on commodity 1
to reduce its consumption by the pubic such heavy taxes
will decrease the deamand of the commodity only when :
a) Ed=0 b) Ed>1
c) Ed<1 d) Ed=1
10 Market Rate of Exchange also denotes: 1
. a) Slope of PPC b) Slope of Budget line
c) Slope of Indifference curve d) None of these
11 Define the following terms: 3
. (i) cartel, (ii) product differentiation, (iii) cooperative
/collusive oligopoly.
12 Prepare the market demand schedule from the given 3
. demands of individuals. (Assuming that there are only three
individuals X,Y and Z in the market)
Price (Rs) Demand (X) Demand (Y) Demand (Z)
7 20 16 15
8 18 15 13
9 16 12 11
10 13 10 09
13 Explain the law of diminishing returns with the help of a 4
. hypothetical schedule and diagram.
14 Differenciate between Total variable cost and Total Fixed 4
. cost.
15 Explain Producer’s Equilibrium with the help of diagram. 4
.
16 The demand function of a commodity x is Qx =12-Px 6
. (where Qx= the quantity demanded of a commodity and
Px=price of the commodity x).Derive the TR and MR
schedules when the price of commodity varies from Rs.12
to Rs.1.
17 The price of a commodity is ₹ 10 per unit and the quantity 6
. supplied at this price is 500 units. If its price falls by 10 per
cent and quantity supplied falls to 400 units, Calculate the
 price elasticity of supply.

STATISTICS
Section A consists of 10 questions of 1 mark each.
18 The law of scarcity: 1
. (a) Does not apply to rich
(b) Applies only to the less developed countries
(c) Implies that consumers want will be satisfied in a socialistic
system
(d) Implies that consumers want will never be satisfied in a
socialistic system
19 Which of the following is not the limitation of Statistics? 1
. (a) Statistics can be misused
(b) Statistics does not study qualitative phenomena
(c) Statistical laws are not exact
(d) Statistics deals with aggregates of facts
20 The method of sampling in which universe is divided into a 1
. number of groups and then certain numbers of items are taken
from each group at random.
(a) Stratified random sampling (c) Systematic sampling
(b) Cluster sampling (d) Multistage sampling
21 Frequency distribution of two variables is known as: 1
. (a) Univariate distribution (c) Multivariate distribution
(b) Bivariate distribution (d) None of the above
22 When for some countries, the magnitude are small and for other, 1
. the magnitudes are very large, to portray the data, it is preferred
to construct:
(a) Deviation bar diagram (c) Duo-directional bar diagram
(b) Broken-scale bar diagram (d) None of the above
23 Graph of successive points of a distribution joined by straight lines 1
. in statistical terminology is known as:
(a) Frequency distribution (c) Frequency polygon
(b) Trend (d)Cumulative distribution curve
24 In a family of 5 persons, there are three earning members having 1
. monthly incomes of Rs.20000, Rs.25000 and Rs.30000.The average
monthly income of a member in the family is:
(a) Rs.25000 (c) Rs.20000
(b) Rs.15000 (d) Rs.30000
25 If mode is ill defined then it is calculated with the help of formula: 1
. (a) Mode = 2Median - 3Mean (c) Mode = 3Median + 3Mean
(b) Mode = 2Median + 3Mean (d) Mode = 3Median - 2Mean
26 STATEMENT 1:Scatter diagram is non-mathematical method of 1
. studying correlation between two variables.
STATEMENT 2:Method of Scatter diagram provide the exact
numerical value of correlation.
ALTERNATIVES:
(a) Both the statements are true
(b) Both the statements are false
(c) Statement 1 is true and Statement 2 is false
(d) Statement 1 is false and Statement 2 is true
27 ASSERTION(A): Index numbers acts as economic barometers. 1
. REASON(R): Index numbers are used in planning and formulating
various government and business policies.
 ALTERNATIVES:
(a) Both A and R are true and R is the correct explaination of A.
(b) A and R are true and R is not the correct explaination of A.
(c) A is true but R is false.
(d) A is false but R is true.
Section B consists of 2 questions of 3 marks each.
28 Find out the missing frequency, if mean = 29. 3
. X 05 15 25 35 45 55
f 05 07 ? 18 5 3
29 Calculate Consumer Price Index (CPI), for the following data: 3
. Commodity Price (in Rs.) Quantity in
2011 2025 units (2011)
A 10 15 15
B 08 12 20
C 20 24 10
D 32 40 5
E 15 20 6
F 12 18 2
G 08 10 1
Section C consists of 3 questions of 4 marks each.
30 Calculate the Arithmetic Mean from the following data. Also apply 4
. Charlier’s Accuracy Check to verify the calculations.
Class 20-25 25-30 30-35 35-40 40-45 45-50 50-55
Interval
Frequency 10 12 8 20 11 4 5
31 The following table shows the marks obtained by Naman and 4
. Shyam in an examination. Draw pie diagrams to represent the
given data.
 Subjects Naman Shyam
Business Studies 80 70
Accounts 90 80
Statistics 95 90
Economics 75 95
English 60 65
32 Determine the median graphically from the data given below: 4
. Marks 0-10 10-20 20-30 30-40 40-50 50-60
Students 3 7 15 9 6 4
Section D consists of 2 questions of 6 marks each.
33 a)Calculate Mode from the following particulars using grouping 6
. method:
Class Intervals (X) Frequency (f)
Below 20 4
20 – 30 6
30 – 40 5
40 – 50 10
50 – 60 20
60 – 70 22
70 – 80 24
80 – 90 6
90 – 100 2
Above 100 1
b)Compute the relation between Mean, Median and Mode.
34 a)Calculate coefficient rank correlation for the following data: 6
. X 75 73 72 72 63 62 55 50
Y 10 11 13 13 13 20 16 28
b)Distinguish Between Karl’s Pearson Method and Spearman’s
Rank Method.
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