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INTERNATIONAL INDIAN SCHOOL, RIYADH

WORKSHEET (2020-2021)

GRADE - XI – ECONOMICS – PRE-BOARD

PART A - MICRO ECONOMICS

UNIT-1 INTRODUCTION

• Maruti Udyog Ltd. Fixes the price of its cars. Is it a study of Macro

economics? Why?

• “Scarcity and Choice go all together.” Defend or Refute.

• “Only scarce goods attract price.” Comment.

• A lot of people died and many factories were destroyed in an earthquake . How

will it affect the PPC of the economy.

• A countrys resources are fully and efficiently employed. The problem of

scarcity exists . What advice would be given to raise the efficiency level of the

human resource to fight against scarcity?

• As water resources are limited in our country how can we economise the water

resources so that it could not cause any future problem> give two

• Although water is useful yet it is cheap. On the contrary diamond is not much

of use still it is expensive. Give one economic reason for this paradox.

• Large number of technical training institutions have been started by the

government. State its economic value in the context of PPC.

• Name the economic value achievable when attempts are made to increase

resources in the country.\

• There are various sources of income a teacher has such as

• He can earn Rs. 40000 from teaching in a school.

• He can earn Rs. 50000 by tution/ coaching.

• He earns Rs. 60000 by writing book guides .

What is the opportunity cost of his teaching in school?Why should he choose

teaching profession?

• Why is PP curve also called Opportunity cost curve?

• A doctor has a private clinic in New Delhi and his annual earnings are Rs. 10

lakh.If he works in a government hospital in New Delhi his annual earnings

will be Rs. 8 lakh. What is the opportunity cost of having a clinic in New

Delhi?

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• Giving reason comment on the shape of PPC based on the following schedule.

Good X ( Units) Good Y ( Units)

0 8

1 6

2 4

3 2

4 0

UNIT- II Consumer‟s Equilibrium and Demand.

• How would you comment on the elasticity of demand when 8% decrease in

price of a commodity causes 2% increase in expenditure of the commodity.?

• If demand curve is found to be positively sloped what it could be due to? Give

your answer in terms of nature of the commodity.

• Do you agree with the view that law of demand need not necessarily fall in

case of inferior goods?

• Diagrammatically illustrate 2 conditions of consumer equilibrium in the

context of IC analysis.

• Given Ed= (-) 0.2 and percentage increase in price is 20% find change in

expenditure on the commodity.

• When the price of exportables falls in the domestic market and exports tend to

rise our export receipts fail to show a rise. Why?

• What awareness can be brought about in the society to reduce the demand for

essential commodity like petrol whose price is increasing day by day.

• A consumer increases his demand for a commodity from 80 units to 100 units

when its price falls by 10%. Calculate its price elasticity of demand.

• Distinguish between shift in demand and movement along the demand curve.

• Explain the effect of fall in price of substitute good upon the equilibrium price

and quantity. Use diagram.

• Explain 2 properties of IC.

• State any 4 sources of leftward shift of demand curve.

• Explain the difference between Law of Demand and Price Elasticity of

Demand.

• A good is inferior to one consumer and at the same time normal for another

consumer. Do you agree? Give example. • Raymond management decided to

declare „Big Sale‟ to increase their revenue. Do you think it will be a success?

• What is meant by Budget Set, Budget Line, and Budget constraint.

• Define MRS and MRT with numerical examples.

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• Define market demand. Explain 2 additional factors affecting market demand

other than the factors affecting Individual Demand.

• Price of a good rises from Rs. 8 per unit to Rs. 10 per unit but its demand

remains unchanged. Calculate price elasticity of demand.

• How do the following factors affect elasticity of demand?

• Proportion of income spent on a good by consumer.

• Number of close substitute of the good available

• Habit of a consumer

• Explain hoe the demand for a good is affected by a rise in price of

supplementary good.

• A 10% rise in price of a good leads to a 20% fall in demand of a good.

Calculate price elasticity of demand.

UNIT-III PRODUCER BEHAVIOUR AND SUPPLY (MICRO)

1. Explain the likely behaviour of TP &MP when for increasing production only

one input is increased while all other inputs are kept constant .

2. Explain the relationship between AP & MP with the help of diagram.

3. Differentiate between short period and long period in production.

4. A farmer in Punjab transports wheat from the farm to a flour mill. Is this activity

considered as production? Why/

5. What are total fixed cost and total variable cost and TC of a firm, How are they

related.

6. Explain the relation between AC & MC

7. Why is the Short run MC is „U‟ shaped

8. Differentiate between Explicit Costs& Implicit Costs.

9. The fixed cost of a firm is Rs. 120 Its marginal cost at different levels of output is

given below. Calculate TC and AVC

OUTPUT MC

60 52

56

64

10. Given below is the cost schedule of a firm. The AFC is Rs. 20 when it produces 3

units. Calculate its MC and ATC at each level\

OUTPUT AVC

30 28 32

11. Why does difference between ATC and AVC decrease with increase in output?

Explain with diagram.

12. How does technological progress affect the supply curve of a firm.

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13. How does imposition of a unit tax affect the supply of a firm

14. The co-efficient of elasticity of supply is 3. A seller supplies 30 units of the

commodity at a price of Rs. 10 per unit. How much quantity of it will he supply

when its price rises by 12%

15. Distinguish between Change in supply and change in quantity supplied

16. Explain geometric method of measuring price elasticity of supply.

17. Firm A produces both Pants and shirts. How will an increase in price of pants

affect the supply of shirts?

18. Complete the following table

Output AR MR TR

1 ----- 15 ------

2 ------ ------- 26

3 11 -------- --------

4 ------- 3 ---------

UNIT IV- Forms of Market and price Determination under Perfect Market

19. When is price different from MR?

20. Show AR curve and demand curve are the same.

21. Can there be a positive level of output that a profit maximizing firm produces in

perfect competitive market at which market price is not equal to MR. Give an

explanation.

22. Explain the implications of the following

i) homogeneous product b) product differentiation iii) Large number of sellers

and buyers

23. The rising portion of the MC curve is the supply curve of a competitive firm.

Explain

24. Explain the effect on equilibrium price due to simultaneous increase in demand

and supply.

25. What will be the impact on price and quantity when the price of substitute good

rises.

PART B – STATISTICS

Chapter – 1: Introduction

Qn:1 Distinguish between economic activities and no – economic activities.

Qn:2 What are the reasons for studying Economics?

Qn:3 Distinguish between quantitative and qualitative data.

Qn:4 What are the Functions of statistics.

Qn:5 Write any 3 Limitation of statistics.

Qn:6 How is statistics important in Economics and economic planning ?

Qn:7 “Scarcity is the root of all economic problems”. Explain

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Chapter – 2 : Collection of Data.

Qn:1 Distinguish between primary and secondary data.

Qn:2 What is Pilot Survey? State the advantages of Pilot Survey.

Qn:3. Mention the sources of secondary data.

Qn:4 Explain Merits and demerits of primary data.

Qn:5 What are the Merits and demerits of secondary data.

Qn:6 Write a short note on National Sample Survey Organization (NSSO).

Qn:7 Differentiate between Census and Sample methods.

Qn:8 Distinguish between random sampling and non- random sampling.

Qn:9 What are Sampling and non-sampling errors?

Qn:10 State Merits and demerits of personal Interview.

Qn:11 What are the Qualities of a good questionnaire .

Qn:12 List the Merits and demerits of mailing questionnaire method.

Chapter – 3 : Organization of Data.

Qn:1 What is frequency distribution? How does it differ from frequency array?

Qn:2 Differentiate between chronological and spatial classification.

Qn:3 Explain the exclusive and inclusive methods in classification.

Qn:5 What is univariate and bivariate frequency distribution?

Qn:6 What is class interval?

Qn:7 Arrange the following data in an array and determine the range:

19, 47, 40, 29, 8, 50, 13, 59, 36, 24.

Qn:8 Construct a frequency distribution with a class interval of 4 on exclusive

basis.

91, 94, 111, 121, 95, 103, 99, 110, 100, 101, 92, 105, 110, 111, 93, 96, 98,

106, 94, 115.

Qn: 9 Wages of 50 workers are given. Present them in the form of exclusive

frequency distribution with class interval as: 45 – 55, 55- 65 etc….

95, 92, 91, 90, 88, 82, 86, 87, 87, 88, 70, 72, 76, 77, 77, 79, 79, 79, 78, 78,

68, 67, 67, 66, 65, 63, 63, 63, 63, 64, 58, 59, 60, 60, 60, 60, 61, 62, 62, 62,

55, 55, 55, 56, 57, 54, 53, 52, 52, 50.

Qn:10 Convert the following inclusive series into exclusive series.

Class 1-5 6-10 11-15 16-20 21-25

Frequency 10 15 20 25 30

Qn:11 From the following frequency distribution, prepare “ less than” and “more than”

series.

Wages (Rs) 100-110 110-120 120-130 130-140

No of workers 4 12 20 7

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Qn:12 Change the following in to continuous series.

Mid-Value 5 15 25 35 45 55

Frequency 16 24 30 18 8 4

Chapter – 4: Presentation of Data.

Qn:1 What are the qualities of the good statistical table?

Qn:2 Distinguish between classification and tabulation.

Qn:3 Merits of Diagrammatic presentation.

Qn:4 Explain the advantages and disadvantages of textural presentation of data.

Qn:5 What you mean by Arithmetic line graphs? Explain briefly.

Qn:6 Draw a single bar diagram with the help of numerical example.

Qn:7 What is a table? Describe the essential parts of a table?

Qn:8

Present the data in the form of a simple bar diagram:

Year 2006 2007 2008 2009 2010

Production of Wheat (

Million Tons)

100

210

350

500

400

Qn:9 Represent the following data with the help of a multiple bar diagram.

Year 1st Division 2nd Division 3rd Division

2009 10 30 50

2010

2011

2012

12

14

11

45

50

40

70

60

75

Qn:10 Represent the following data by means of a component bar diagram.

Qn:11

Year Males (Cr) Females ( Cr) Total Population

2012

2013

2014

25

30

50

10

20

25

35

50

75

Draw a Pie Diagram for the following data.

Items Labour Bricks Cement Steel Timber Supervision

Expenditure

(%)

25 15 20 15 10 15

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Qn:12 Present the data given below in a histogram, Frequency polygon and frequency

curve:

Marks 0-10 10-20 20-30 30-40 40-50 50-60

Frequency 4 10 16 20 18 8

Qn:13 Prepare both types of ogives ( less than and more than) using the following

data.

Weight (kg) 30-34 35-39 40-44 45-49 50-54 55-59

Frequency 3 5 12 14 6 2

Chapter 5: Measures of Central Tendency

Qn:1 Explain the characteristics of a good average.

Qn:2 What is Arithmetic mean? Write two merits of Arithmetic mean.

Qn:3 Mention any three merit of median.

Qn:4 What is mode? Write three characteristics of mode.

Qn:5 How are the Quartiles calculated in continue series?

Qn:6 What is a measure of Center Tendency? Name at least four merits of mean.

Qn:7 The following table gives the daily income of 6 works in a factory. Find

Arithmetic mean by using : (i) Direct Method, (ii) Assumed mean method

and (iii) Step – Deviation method.

Workers A B C D E F

Daily Income 120 150 180 200 250 300

Qn:8 Calculate weighted mean of the following distribution:

Items 12 29 14 41

Weight 6 4 5 2

Qn:9 Find Arithmetic mean for the following data using Step=Deviation method.

Temperature - 40 to-

30

- 30 to-

20

-20 to-

10

-10 to

0

0 to 10 10

20

to 20

30

to

No. of days 10 28 30 42 65 180 10

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Qn:10 If the Arithmetic mean of the follow data is 28, find out the missing

frequency.

X • 10 10-20 20-30 30-40 40-50 50-60

f 12 18 27 ____ 17 6

Qn:11 Find out the median of the data given below by arranging them in ascending

order:

X 160 150 152 161 156

f 5 8 6 3 7

Qn:12 Calculate median for the data given below:

Class 0-10 10-20 20-30 30-40 40-50 50-60 60-70

Frequency 10 5 5 10 15 5 10

Qn:13 Locate the median graphically from the following data:

Marks 0-10 10-20 20-30 30-40 40-50

No. of

students

10 20 30 20 10

Qn:14 Calculate Q1 and Q3 from the following data:

Marks 10 20 30 40 50 60

No. of

students

4 10 20 8 6 3

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Qn:15 The following series relates to the daily income of workers employed in a firm.

Compute :

• Highest income of lowest 50% workers,

• Minimum income earned by top 25% workers and iii)Maximum

income earned by lowest 25% workers.

Daily

income

(Rs)

10-14 15-19 20-24 25-29 30-34 35-39

No. of

workers

5 10 15 20 10 5

Qn: 16 Locate the mode graphically:

Marks 0-10 10-20 20-30 30-40 40-50 50-60 60-70

No. of

students

5 10 20 25 20 10 5

Qn:17 Calculate mode in the following series:

Marks

in

Economics

10-19 20-29 30-39 40-49 50-59 60-69 70-79

Marks in

Statistics

10 12 18 30 16 06 08

Qn: 18 What value do you give to the statement that arithmetic mean is independent

of the change of origin and scale? Explain.

Qn: 19 An average is a single value with in the range of the data that is used to

represent all the values of the series. It is also known as measure of central value.

Justify the statement that “an ideal average should be capable of algebraic treatment for

further statistical calculations.” Chapter 6: Measures of Dispersion.

Qn:1 Distinguish between Mean Deviation & Standard Deviation.

Qn:2 Distinguish between absolute and relative measures of dispersion.

Qn:3 What is coefficient of variation? What purpose does it serve?

Qn:4 “ Algebraic signs are not taken into consideration in computing Mean

Deviation”. Explain.

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Qn:5 Why is Quartile Deviation also known as semi – inter – quartile Range?.

Qn:6 The following seven student have scored in Economics as under. Find out the

range and coefficient of range.

S / No. 1 2 3 4 5 6 7

Marks 20 50 75 25 80 40 60

Qn:7 From the following data, calculate coefficient of Quartile Deviation.

Wages 0-

20

20-

40

40-60 60-80 80-100 100-120 120-140

No. of workers 5 8 15 20 30 33 35

Qn:8 Calculate Mean Deviation from mean and coefficient of Mean Deviation.

Qn:9

Qn:10

Chapter 7:

Correlation.

Qn:1 What is Correlation?. Distinguish between positive and negative correlation.

Qn:2 State the merits of Spearmen‟s Rank Correlation.

Qn:3 Name various methods of studying correlation. Describe anyone.

Qn:4 Draw a scatter diagram and indicate the nature of correlation.

Weekly wages 200-400 400- 600 600-800 800-1000

No. of

Workers

20 40 30 10

Calculate Standard Deviation by Step-Deviation method.

Class

Interval

0-10 10-20 20-30 30-40 40-50 50-60 60-70

Frequency 10 15 25 25 10 10 5

Draw a Lorenz Curve from the data given below:

Income 100 200 400 500 800

No. of

Person

80 70 50 30 20

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Qn:5

Qn:6 Define

correlation. Write its significant. Find-out Spearman‟s Rank

Coefficient of correlation from the following data.

Marks

in

Economics

8 36 98 25 75 82 92 62 65 35

Marks

Statistics

84 51 91 60 86 62 86 58 35 49

CHAPTER 8 - INDEX NUMBERS

• What is Index Number? Write the importance of Index Number.

• Distinguish between Laspeyer‟s and Paasche‟s Index.

• Write short notes on Sensex.

• Why do need to use Consumer Price Index Number and Wholesale Price Index

Numbers?

• Fisher‟s Index Number is considered as an ideal method. Why?

• Explain the various steps in the construction of C.P.I.

• Explain the precautions that are to be taken while construction Index Numbers.

• Construct the following indices by taking 2010 as the base year.

• Simple Aggregative Price Index

• Index of Averages of Price Relatives.

Items A B C D E

Price (2010) 6 2 4 10 8

Price (2011) 10 2 6 12 12

Price (2012) 15 3 8 14 16

• Calculate Weighted Aggregative Price Index from the following data using

• Laspeyer‟s Method.

• Paasche‟s Method.

X 10 20 30 40 50 60 70 80

Y 5 10 15 20 25 30 35 40

Calculate Coefficient of Correlation between

mortality from the following data.

age group and rate of

Age group 0-20 20-40 40-60 60-80 80-100

Rate of

Mortality

350 280 540 760 900

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COMMODITY BASE PERIOD CURRENT PERIOD

A 2 10 4 5

B 5 12 6 10

C 4 20 5 15

D 2 15 3 10

• The Price quotation of different commodities for 2011 and 2012 are given

below. Calculate the Index Number by taking 2011 as base year.

COMMODITY UNIT WEIGHT PRICES IN

2011 2012

A Kg. 5 2 4.5

B Qt. 7 2.5 3.2

C Dozen 6 3 3.5

D Kg 2 1 1.8

Prepared by:

XI-XII Boys section.