ASSIGNMENT FOR REVISION

HALF YEARLY 2024

CLASS XI
MICROECONOMICS

1 MARK QUESTIONS

1. A consumer consuming two goods, A and B is in equilibrium. The prices of

good A and B are Rs.10 and Rs.20 respectively. If is 60 utils, Then
_________is the value of MU of A.
a. 30 utils
b. 40 utils
c. 50 utils
d. None of the above.

2. If consumption of an additional unit of a commodity causes no change in TU,

then MU is _____________.
a. positive
b. negative
c. constant
d. zero

3. Assertion (A): MRT can be constant

Reason (R): All resources are equally efficient in the production of all the goods.
Choose the correct option:
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 but Reason(R) is not the
correct explanation of Assertion (A).
c. Assertion (A) is true and Reason(R) is false.
d. Assertion (A) is false and Reason (R) is true.

4. Statement 1: PPC is downward sloping in nature from left to right

Statement 2: Resources are fixed in nature.
Choose the correct option :-
a. Statement 1 and Statement 2 both are true.
b. Statement 1 and Statement 2 both are false.
c. Statement 1 is true and Statement 2 is false.
d. Statement 1 is false and Statement 2 is true.

5. When Ed = -3, it implies __________

a. 10 percent rise in price of given good will lead to 30 percent fall in
quantity demanded.
b. 30 percent rise in price of given good will lead to 10 percent fall in the
quantity demanded.
c. Either a) or b)
d. None of the above.

6. Assertion (A): Demand curve is vertical line parallel to Y-axis.

Reason (R): There is no change in quantity of a commodity demanded
irrespective of change in price.
Choose the correct option:
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 but Reason(R) is not the
correct explanation of Assertion (A).
c. Assertion (A) is true and Reason(R) is false.
d. Assertion (A) is false and Reason (R) is true.

7. Due to globalization, there was increase in foreign investments in India . This

led to ______________.
a. Shift of PPC towards left
b. Movement inside the PPC
c. Movement on the PPC
d. Shift of PPC towards right.

8. ___________ deals with actual facts and figures and do not involve judgements.
a. Positive Economics
b. Normative Economics
c. Micro Economics
d. Macro Economics

9. The expansion of demand is represented by _________.

a. Downward movement along the demand curve
b. Upward movement along the demand curve
c. Rightward shift of the demand curve
d. Leftward shift of the demand curve.

10. In case of __________ a fall in the price of one leads to an increase in demand
for the other commodity.
a. Complementary goods
b. Substitute goods
c. Normal goods
d. Inferior goods.

Q11. Central government of India announced relief packages for migrant labourer during the
pandemic of 2020. The statement is ……. (1)
a. Normative statement
b. Positive statement
c. Both a & b
d. None of the above

Q12. Which of the following pair is incorrect (1)

a. Mixed economy i) Market forces of demand and supply
b. Central problems of an economy ii) Scarcity of resources
c. Opportunity cost iii) Cost of next best alternative lost
d. Socialist economy iv) Central problems are dealt by Central Authority.

Q13. Suppose that you have to decide between seeing a movie and going to see a cricket match on a
particular Saturday evening. You are willing to pay Rs. 500/- to see movie. You are willing to pay Rs.
1,500/- for the cricket match. The opportunity cost of going to the movie is (1)
a. Rs. 1000/- b. Rs. 500/- c. Rs. 1500/- d. None of the above.

Q14. Assertion (A) : Bundle of 6 Chocolate and 6 Chips are not always preferred to Bundle of 5
Chocolates and 6 chips
Reason ( R ) : According Monotonic Preference in a bundle of two goods, MORE OF ONE IS BETTER
 NO LESS THE OTHER. (1)
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 the not the correct
explanation of Assertion (A)
c. Assertion (A) is true but and Reason ( R ) is false
d. Assertion (A) is false but and Reason (R) is true

Q15. Given the budget line 2Qx + 5Qy = 100, What will be its slope? (1)
a. -5/2 b. 5/2 c. -2/5 d. 2/5

Q16. Statement 1 : Law of Diminishing Marginal Utility does not hold true for Hobbies &
Addictions.
Statement 2: Law of diminishing Marginal Utility states that if TU is increasing Marginal utility also
should increase. (1)
a. Both statement 1 & statement 2 are correct
b. Both statement 1 & statement 2 are false
c. Statement 1 is correct but Statement 2 is false
d. Statement 1 is false but Statement 2 is correct

Q17. If price elasticity of demand is 1, a 10 % fall in price of good leads to (1)

a. Fall in demand by 10%
b. Increase in demand by 10%
c. Either a or b
d. No change in Demand

Q18. Assertion (A) : Demand for luxury goods has higher elasticity of demand (1)
Reason ( R ) : Demand for luxury goods can be postponed.
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 the not the correct
explanation of Assertion (A)
c. Assertion (A) is true but and Reason ( R ) is false
d. Assertion (A) is false but and Reason ( R ) is true

Q19. Statement 1 : Elasticity of demand on a rectangular hyperbola shaped demand curve is ONE
Statement 2 : Elasticity of demand along a demand curve parallel to horizontal axis is ONE (1)
a. Both statement 1 & statement 2 are correct
b. Both statement 1 & statement 2 are false
c. Statement 1 is correct but Statement 2 is false
d. Statement 1 is false but Statement 2 is correct

Q20. The price elasticity of demand ranges between (1)

a. -1 to 0
b. 0 to 1
c. 0 to infinity
d. None of the above

3, 4 & 6 MARK QUESTIONS

Q1. What is meant by “EXPANSION OF DEMAND”? Explain it with the help of a diagram. (3)

Q2. How is the price elasticity of demand of a commodity affected by the number of its substitutes
 available? Explain with example. (3)

Q3. How is the price elasticity of demand of a commodity affected by the nature of a commodity?
Explain with example. (3)

Q4. Explain with an imaginary schedule why is production possibility curve concave to the origin.(4)

Q5. Define Indifference Map. Explain with diagram why an Indifference curve to the right shows
more utility level. (1+3=4)

Q6. Explain with an imaginary schedule why indifference curve is downward sloping convex to the
origin. (4)

Q7. Price of the commodity increases from Rs. 50 to Rs. 60 per unit. Quantity demanded initially
was 200 units and decreased to 180 units. Find the Elasticity of demand and comment on the
elasticity. (4)

Q8. A consumer consumes only two goods. State the conditions of consumer equilibrium in I.C.
Budget line approach. Explain with diagram how equilibrium is established. (2+4=6)

Q9. READ THE GIVEN CASE CAREFULLY AND ANSWER THE FOLLOWING QUESTION
We defined demand as the amount of some product that a consumer is willing and able to purchase
at each price. This suggests few factors in addition to price, that affect demand " WILLINGNESS
TO PURCHASE & quot;, Ability to purchase suggests that income is important. The goods whose demand tends
to increase as the income of the consumer rises are called normal goods. As against this, inferior
goods are the goods which encounter a fall in demand as the income of consumer rises. The price of
related goods can also affect demand. If you need a new car, for example, the price of a Honda may
affect your demand for a Ford, they are substitute to each other. There are some goods that the
consumer uses together. For example, cereal and milk. On occasion, the complementary good is
absolutely necessary, as is the case with petrol and a car.
a. Differentiate between Substitute and complementary good. (3)
b. Explain with diagram, how is the demand of a particular commodity affected by increase
in the price of substitute goods. (3)

Q10. c. Differentiate between Normal good and Inferior good. (3)

d. Explain with diagram, how is the demand of a normal good affected by increase in
income of the consume.

Q11. a. Explain the central problem ‘For whom to produce.’

b. “Massive unemployment shifts the PPC to left” - Defend or refute with reason

Q12. a. Why is budget line a downward sloping straight line?

b. What is an indifference map?

Q13. a. How ‘share of expenditure spent on the commodity’ and ‘level of income of
the consumer’ determine the elasticity of demand.

Q14. b. As a result of 20% falls in the price of the commodity the quantity demand
increases from 100 units to 120 units. Calculate elasticity of demand and comment on
the shape of the demand curve.

Q15. Explain with the help of a schedule why is IC convex to the origin? 4
Q16. . a. “With the contraction of demand, the demand curve shifts to right”.- defend or
refute with reason.
b. Mr. X who loves ice-cream had already 3 ice-creams. The MU of ice-cream in
terms of rupees is 10 and price of ice-cream is also 10. Will he continue to consume
more of ice-cream? Explain with reason

Q17. a. How will the consumer react if:

The ratio of marginal utility of a commodity to its price is not equal to the ratio
of marginal utility of another commodity to its price.
b. Explain the conditions of consumer equilibrium using IC-budget line
approach with the help of a diagram.

Q18. Read the following passage carefully and answer the questions based on in.
Demand simply means a consumer’s desire to buy goods and services without
any hesitation and pay the price for it. In simple words demand is the number of
goods that the consumers are ready and willing to buy at several prices during a
given time frame. Preferences and choices are the basics of demand and can be
described in terms of cost, benefits, profit and other variables. The amount of
goods that the customers pick, modestly relies on the price of the commodity,
the prices of other commodities, the customer’s earnings, and his or her tastes
and preference.
a. Explain how the change in the price of substitute commodity affect the
demand for the particular commodity.Use diagram to explain.
b. Explain how the change in the income of consumer affect the demand for
normal goods. Use diagram.

STATISTICS
1 MARK QUESTION
Q1. . Which of the following indicates the nature of statistics?
a. It deals with quantitative information which allows comparison.
b. It involves use of scientific method and procedures.
c. It deals with human behaviour of making choice.
d. All of the above.

Q2. Which of the following is not the primary source of data?

a. Direct personal interview.
b. Government publications
c. Mailed questionnaire
d. None of the above.

Q3. Class size of a class interval is calculated as:

a. Product of upper limit and lower limit of the class
b. Difference between upper limit and lower limit of the class
c. Sum of upper limit and lower limit of the class
d. None of the above

Q4. Histogram are prepared for —------------

a. Individual series
b. Discrete series
c. Frequency distribution series
d. All the above.
Q5. In case of pie diagram —------------ formula is used to calculate the value of
degrees.
a. Degree= (percentage value)/100×360
b. Degree=( Absolute value)/Total Value × 360
c. Both a. and b.
d. None of the above.

Q6. The frequency distribution is given as _______________.

Marks : 2-4 6-8 10-12 14-16
No.of
students: 2 4 4 5
The value of adjustment factor in the above distribution is:
a. 2
b. 0.5.
c. 1
d. 3

Q7. Number of times a particular value repeats itself in the range of values is called
as _________________.
a. Frequency
b. Class intervals
c. Mid values
d. None of the above.

Q8. Statement 1: In primary data, information is collected from the source of origin.
Statement 2: No adjustment in primary data is required
Choose the correct option:
a. Statement 1 and Statement 2 both are true.
b. Statement 1 and Statement 2 both are false
c. Statement 1 is true and Statement 2 is false
d. Statement 1 is false and Statement 2 is true.

Q9. Assertion (A): In bar diagram the width of the bars remains same
Reason (R): In bar diagram height of the bars remain the same always.
Choose the correct option:
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 but Reason(R) is not the
correct explanation of Assertion (A).
c. Assertion (A) is true and Reason(R) is false.
d. Assertion (A) is false and Reason (R) is true.

Q10. Which of the following method is most appropriate when area of investigation is
small, greater degree of originality and direct contact with the respondent is
required?
a. Indirect oral investigation
b. Direct personal investigation
c. Information through local sources
d. Mailing method

Q11. What is the root cause of all economic problems ? (1)

a. Scarcity b. Unlimited want c. Both a & b d. None of the above
Q12. Which of the following statement is true? (1)
a. Statistics deals with all kinds of data
b. Statistics deals with quantitative and qualitative judgement
c. Statistics deals with only ideologically correct data
d. None of the above

Q13. Suppose the statistical data are given as (1)

X: 10 20 30 40
F: 5 6 8 2
This is an example of
i) Discrete series
ii) Continuous series
iii) Individual series
iv) None of the above

Q14. Mode is ____ (1)

Age :: 11 12 13 14 15 16
No. of students :: 2 3 6 5 4 1
a. 6 b. 13 c. 14 d. None of the above

Q15. Assertion (A) : Histogram and Simple Bar diagram are same (1)
Reason ( R ) : Histogram does not have any gap between the Bars.
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 but Reason ( R ) is the 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

Q16. For the observations 2, 5, 3, 6, 3, 5, 2, 7, 2, mode is (1)

a. 2, b. 3 , c. 6 d. None of the above.

Q17. A frequency polygon is obtained by (1)

a. Constructing a frequency histogram
b. Constructing a cumulative frequency histogram
c. Linking the mid-points from a frequency histogram.
d. None of the above

Q18. The arithmetic mean of 1,3,5,6,M,10 is 6. The value of M is. (1)

a. 10

b. 11
c. 12
d. None of the above.

Q19. Median of the following data is _____ (1)

100, 300, 540, 710, 340, 375, 50, 600, 630
a. 340 b. 375, c. 300, d. None of the above

Q20. The given class interval is 20-29, 30-39, 40-49, 50-59. What is the nature of the class interval?
i) Inclusive class (1)
ii) Exclusive class
iii) Cannot be determined
 iv) Either i) or ii)

3, 4 & 6 MARK QUESTIONS

Q1. Find Mode for the following data (3)
Class :: 0 – 10 10 – 20 20 – 30 30 – 40 40 – 50 50 – 60
Frequency :: 8 12 20 10 6 4

Q2. Calculate Median (3)

X:: 5 15 25 35 45 55 65 75
F:: 2 4 6 8 7 5 3 1

Q3. State three differences between Primary Data and Secondary data. (3)

Q.4 Draw a Histogram and Frequency Polygon from the following data (4)
Number of Accidents :: 0 - 10 10 - 20 20 - 30 30 - 40 40 - 50
Days in a Year 57 68 71 120 49

Q5. Locate Mode graphically from the following data (4)

Number of Accidents :: 0 - 10 10 - 20 20 - 30 30 - 40 40 - 50
Days in a Year 57 68 71 120 49

Q6. State four differences between Census survey & Sample survey. (4)

Q 7. Calculate Arithmetic Mean from the following data (4)

Class :: 0–22–44–66–8 8 – 10
Frequency:: 5 10 40 20 25

Q8. Calculate Missing Frequency, M & K, if Mean is known to be 26 & Total Frequency N= 60
from the data given below.
Marks :: 0 - 10 10 - 20 20 - 30 30 - 40 40 - 50 50 - 60 (6)
Frequency :: 8 12 M 10 K 4

Q9. From the following data given below, locate Median Graphically. (6)
Class :: 0 - 5 5 - 10 10 - 15 15 - 20
Frequencies: 12 8 10 15

Q10. Find Median for the following data (6)

Class :: 5 - 15 15 - 25 25 - 35 35 - 45 45 - 55 55 - 65
Frequency:: 3 5 8 6 5 3

Q11. What do you mean by systematic Random sampling?

Q12 What do you mean by stratified Random sampling?

Q13. 29. Calculate median:

x 20 25 30 35 40
f 8 15 22 13 7

Q14. 30. a. Find mode graphically:-

C.I. 10-20 20-30 30-40 40-50 50-60
F 15 27 34 8 3
Q15. . Calculate mode
Marks 100-120 120-140 140-160 160-180 180-200
No.of students 25 34 45 27 13

Q16. Draw pie chart from the following.

Items of expenditure Expenditure(Rs.)
Food 25
Education 40
Rent 35

Q17. Calculate mean using step deviation method:-

C.I.: 10-19 20-29 30-39 40-49 50-59
F 8 9 12 11 6

Q18. . Find median graphically:

Wage (₹) 100-200 200-300 300-400 400-500
No.of workers 12 16 27 18

Q19. . Calculate median:

X( Mid Values) 80 90 100 110 120
F 7 19 23 29 11

Q20. Find the missing frequencies given that 6

N= 50
= 29.6
C.I: 0-10 10-20 20-30 30-40 40-50 50-60
F 5 F1 12 F2 6 4