Class 11 Economics Previous Year Paper - 1 | Economics Class 11 - Commerce PDF Download

 Page 1


 
 
 
  
Date:                                           Class: XI 
Economics (030)  
Time: 3 hrs                                 M. M:100  
General Instructions: 
1. All the questions are compulsory. 
2. Questions carrying 1 mark are multiple choice questions. 
3. Questions carrying 3 marks need to be answered in 40 – 60 words.  
4. Questions carrying 4 marks need to be answered in 60 – 80 words. 
5. Questions carrying 6 marks need to be answered in 80 – 100 words. 
 
 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
a) Most preferred product declared by company on market research 
b) Weather prediction forecast by weather department 
c) All Indians are corrupt 
d) None of these 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
data by: 
a) Direct personal interview 
b) Questionnaire method 
c) Personal Interview 
d) Both a and c 
 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
a) Qualitative classification                                      b) Quantitative classification 
c) Spatial classification                                             d) Chronological classification 
 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is: 
a) sub divided bar diagram                                       b) multiple bar diagram 
c) percentage bar diagram                                        d) single bar diagram 
 
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                                     b) Median 
c) Mode                                                                     d) None of these 
1 
 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
3 
 
 
 
9 Illustrate the need for empirical analysis in economics with examples. 
OR 
Statistical analysis is of vital importance for successful businessman, economists, 
3 
Page 2


 
 
 
  
Date:                                           Class: XI 
Economics (030)  
Time: 3 hrs                                 M. M:100  
General Instructions: 
1. All the questions are compulsory. 
2. Questions carrying 1 mark are multiple choice questions. 
3. Questions carrying 3 marks need to be answered in 40 – 60 words.  
4. Questions carrying 4 marks need to be answered in 60 – 80 words. 
5. Questions carrying 6 marks need to be answered in 80 – 100 words. 
 
 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
a) Most preferred product declared by company on market research 
b) Weather prediction forecast by weather department 
c) All Indians are corrupt 
d) None of these 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
data by: 
a) Direct personal interview 
b) Questionnaire method 
c) Personal Interview 
d) Both a and c 
 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
a) Qualitative classification                                      b) Quantitative classification 
c) Spatial classification                                             d) Chronological classification 
 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is: 
a) sub divided bar diagram                                       b) multiple bar diagram 
c) percentage bar diagram                                        d) single bar diagram 
 
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                                     b) Median 
c) Mode                                                                     d) None of these 
1 
 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
3 
 
 
 
9 Illustrate the need for empirical analysis in economics with examples. 
OR 
Statistical analysis is of vital importance for successful businessman, economists, 
3 
 
 
administrators and educationist. Discuss with examples. 
 
10 Differentiate between mistake and errors in statistics. What are the source of these errors? 
 
3 
11 Draw  pie diagram to represent the marks obtained by Isha  in an Examination: 
Subject Isha 
Math 40 
Economics 35 
Accounts 45 
English 34 
Sociology 46 
 
OR 
Draw an appropriate Diagram for the following data: 
            Year Production ( in ‘000 tonnes) 
Wheat Rice Cotton 
2002 35 22 10 
2003 15 25 16 
2004 40 12 20 
 
4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12 Graphically determine the value of mode from the following data. 
 
X 10-19 20-29 30-39 40-49 50-59 
F 3 4 6 5 2 
 
4 
 
 
 
 
13 The combined mean weight of 150 students in the class is 60 kg. The mean weight of boys is 
70 kg and that of girls is 55 kg. Calculate the number of boys and girls in the class. 
 
4 
14 The median value of the data is given that is 40 and N = 60. Fill up the missing frequencies: 
Variable 0-10 10-30 30-60 60-80 80-90 
Frequency 5 ? ? 8 2 
 
6 
 
 
 
15 Draw the format of a table explaining all its parts. 
 
6 
16 a) Data collected at random is of no use for a statistician unless properly classified. Do you    
    agree? Give reasons.  
b) Tabulation suffers from serious limitations. Discuss. 
OR 
a) Classification needs to fulfill some requirements. What are these requirements? 
b) Diagrammatic presentation are the most effective way to present the data. Do you agree?    
    Give reasons.  
3+3=6 
 
 
 
 
 
 Part – B (Indian Economic Development) 
 
 
17 An economy will have economic development when: 
a) National Income rises 
b) Per capita income rises 
c) Population increases 
d) None of these 
1 
 
 
 
 
 
18. To resolve BOP crisis in India in 1991, the immediate action taken was: 
a) Devaluation of rupee 
b) revaluation of rupee 
c) increase in deposit rates of NRI’s 
d) Inviting Foreign direct investment 
  
1 
Page 3


 
 
 
  
Date:                                           Class: XI 
Economics (030)  
Time: 3 hrs                                 M. M:100  
General Instructions: 
1. All the questions are compulsory. 
2. Questions carrying 1 mark are multiple choice questions. 
3. Questions carrying 3 marks need to be answered in 40 – 60 words.  
4. Questions carrying 4 marks need to be answered in 60 – 80 words. 
5. Questions carrying 6 marks need to be answered in 80 – 100 words. 
 
 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
a) Most preferred product declared by company on market research 
b) Weather prediction forecast by weather department 
c) All Indians are corrupt 
d) None of these 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
data by: 
a) Direct personal interview 
b) Questionnaire method 
c) Personal Interview 
d) Both a and c 
 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
a) Qualitative classification                                      b) Quantitative classification 
c) Spatial classification                                             d) Chronological classification 
 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is: 
a) sub divided bar diagram                                       b) multiple bar diagram 
c) percentage bar diagram                                        d) single bar diagram 
 
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                                     b) Median 
c) Mode                                                                     d) None of these 
1 
 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
3 
 
 
 
9 Illustrate the need for empirical analysis in economics with examples. 
OR 
Statistical analysis is of vital importance for successful businessman, economists, 
3 
 
 
administrators and educationist. Discuss with examples. 
 
10 Differentiate between mistake and errors in statistics. What are the source of these errors? 
 
3 
11 Draw  pie diagram to represent the marks obtained by Isha  in an Examination: 
Subject Isha 
Math 40 
Economics 35 
Accounts 45 
English 34 
Sociology 46 
 
OR 
Draw an appropriate Diagram for the following data: 
            Year Production ( in ‘000 tonnes) 
Wheat Rice Cotton 
2002 35 22 10 
2003 15 25 16 
2004 40 12 20 
 
4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12 Graphically determine the value of mode from the following data. 
 
X 10-19 20-29 30-39 40-49 50-59 
F 3 4 6 5 2 
 
4 
 
 
 
 
13 The combined mean weight of 150 students in the class is 60 kg. The mean weight of boys is 
70 kg and that of girls is 55 kg. Calculate the number of boys and girls in the class. 
 
4 
14 The median value of the data is given that is 40 and N = 60. Fill up the missing frequencies: 
Variable 0-10 10-30 30-60 60-80 80-90 
Frequency 5 ? ? 8 2 
 
6 
 
 
 
15 Draw the format of a table explaining all its parts. 
 
6 
16 a) Data collected at random is of no use for a statistician unless properly classified. Do you    
    agree? Give reasons.  
b) Tabulation suffers from serious limitations. Discuss. 
OR 
a) Classification needs to fulfill some requirements. What are these requirements? 
b) Diagrammatic presentation are the most effective way to present the data. Do you agree?    
    Give reasons.  
3+3=6 
 
 
 
 
 
 Part – B (Indian Economic Development) 
 
 
17 An economy will have economic development when: 
a) National Income rises 
b) Per capita income rises 
c) Population increases 
d) None of these 
1 
 
 
 
 
 
18. To resolve BOP crisis in India in 1991, the immediate action taken was: 
a) Devaluation of rupee 
b) revaluation of rupee 
c) increase in deposit rates of NRI’s 
d) Inviting Foreign direct investment 
  
1 
 
 
19 Which of the following statement is untrue: 
a) GATT was established in 1948 
b) WTO found in 1995 
c) WTO was formed as a successor of GATT 
d) None of these 
 
1 
20 Modernisation refers to 
a) use of latest technology 
b) change in social outlook 
c) Both a and b 
d) None of these 
 
1 
21 On the eve of independence, approx. ___ of country’s population derived its income from 
agriculture. 
a) 65%     b) 85%     c) 75%    d) 67% 
 
1 
22 Critically apprise some of the shortfalls of industrial policy pursued by British colonial 
administration.  
 
3 
23 Lack of dedication and implementation by the government towards the policy of the land of 
the tiller were responsible for their plight. Elaborate the statement. 
 
3 
 
24 How was the new industrial policy, 1991 was a major deviation from IPR 1956? 3 
 
25 Accelerating economic growth was the only reason to adopt New Economic Policy in 1991. 
Defend or Refute? Give reasons. 
OR 
Highlight the steps taken to increases the efficiency and competitiveness of India in 
international market to attract foreign direct investment. 
 
3 
 
26 Briefly review India’s industrial development since independence. What changes do you 
observe in India’s industrial structure? 
 
3 
27 What is the theory of demography transition? What are its stages? 
OR 
Give a brief appraisal of India’s demographic profile during the colonial period. 
 
4 
28 Do you think outsourcing is goof for India? Why developed nations are opposing it? 4 
29 ‘India would be a socialist society with a strong public sector but also with private property 
and democracy.’ Interpret these lines of Jawahar Lal Nehru. 
4 
30 Indian economy wanted to draw India on socialist lines. What steps were taken to regulate 
private sector in this context? 
6 
31 Discuss New Economic Policy in India in context of social welfare and justice? 
OR 
New Economic policy proved to be good foe some sectors while unfruitful for some. 
Discuss. 
6 
32 a) What was the motive of British economic policies and how it had an adverse impact for 
India? 
b) Independent India built the base of country’s future on British efforts spices with selfish 
motive. Do you agree? Give reasons.  
3+3=6 
Page 4


 
 
 
  
Date:                                           Class: XI 
Economics (030)  
Time: 3 hrs                                 M. M:100  
General Instructions: 
1. All the questions are compulsory. 
2. Questions carrying 1 mark are multiple choice questions. 
3. Questions carrying 3 marks need to be answered in 40 – 60 words.  
4. Questions carrying 4 marks need to be answered in 60 – 80 words. 
5. Questions carrying 6 marks need to be answered in 80 – 100 words. 
 
 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
a) Most preferred product declared by company on market research 
b) Weather prediction forecast by weather department 
c) All Indians are corrupt 
d) None of these 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
data by: 
a) Direct personal interview 
b) Questionnaire method 
c) Personal Interview 
d) Both a and c 
 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
a) Qualitative classification                                      b) Quantitative classification 
c) Spatial classification                                             d) Chronological classification 
 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is: 
a) sub divided bar diagram                                       b) multiple bar diagram 
c) percentage bar diagram                                        d) single bar diagram 
 
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                                     b) Median 
c) Mode                                                                     d) None of these 
1 
 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
3 
 
 
 
9 Illustrate the need for empirical analysis in economics with examples. 
OR 
Statistical analysis is of vital importance for successful businessman, economists, 
3 
 
 
administrators and educationist. Discuss with examples. 
 
10 Differentiate between mistake and errors in statistics. What are the source of these errors? 
 
3 
11 Draw  pie diagram to represent the marks obtained by Isha  in an Examination: 
Subject Isha 
Math 40 
Economics 35 
Accounts 45 
English 34 
Sociology 46 
 
OR 
Draw an appropriate Diagram for the following data: 
            Year Production ( in ‘000 tonnes) 
Wheat Rice Cotton 
2002 35 22 10 
2003 15 25 16 
2004 40 12 20 
 
4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12 Graphically determine the value of mode from the following data. 
 
X 10-19 20-29 30-39 40-49 50-59 
F 3 4 6 5 2 
 
4 
 
 
 
 
13 The combined mean weight of 150 students in the class is 60 kg. The mean weight of boys is 
70 kg and that of girls is 55 kg. Calculate the number of boys and girls in the class. 
 
4 
14 The median value of the data is given that is 40 and N = 60. Fill up the missing frequencies: 
Variable 0-10 10-30 30-60 60-80 80-90 
Frequency 5 ? ? 8 2 
 
6 
 
 
 
15 Draw the format of a table explaining all its parts. 
 
6 
16 a) Data collected at random is of no use for a statistician unless properly classified. Do you    
    agree? Give reasons.  
b) Tabulation suffers from serious limitations. Discuss. 
OR 
a) Classification needs to fulfill some requirements. What are these requirements? 
b) Diagrammatic presentation are the most effective way to present the data. Do you agree?    
    Give reasons.  
3+3=6 
 
 
 
 
 
 Part – B (Indian Economic Development) 
 
 
17 An economy will have economic development when: 
a) National Income rises 
b) Per capita income rises 
c) Population increases 
d) None of these 
1 
 
 
 
 
 
18. To resolve BOP crisis in India in 1991, the immediate action taken was: 
a) Devaluation of rupee 
b) revaluation of rupee 
c) increase in deposit rates of NRI’s 
d) Inviting Foreign direct investment 
  
1 
 
 
19 Which of the following statement is untrue: 
a) GATT was established in 1948 
b) WTO found in 1995 
c) WTO was formed as a successor of GATT 
d) None of these 
 
1 
20 Modernisation refers to 
a) use of latest technology 
b) change in social outlook 
c) Both a and b 
d) None of these 
 
1 
21 On the eve of independence, approx. ___ of country’s population derived its income from 
agriculture. 
a) 65%     b) 85%     c) 75%    d) 67% 
 
1 
22 Critically apprise some of the shortfalls of industrial policy pursued by British colonial 
administration.  
 
3 
23 Lack of dedication and implementation by the government towards the policy of the land of 
the tiller were responsible for their plight. Elaborate the statement. 
 
3 
 
24 How was the new industrial policy, 1991 was a major deviation from IPR 1956? 3 
 
25 Accelerating economic growth was the only reason to adopt New Economic Policy in 1991. 
Defend or Refute? Give reasons. 
OR 
Highlight the steps taken to increases the efficiency and competitiveness of India in 
international market to attract foreign direct investment. 
 
3 
 
26 Briefly review India’s industrial development since independence. What changes do you 
observe in India’s industrial structure? 
 
3 
27 What is the theory of demography transition? What are its stages? 
OR 
Give a brief appraisal of India’s demographic profile during the colonial period. 
 
4 
28 Do you think outsourcing is goof for India? Why developed nations are opposing it? 4 
29 ‘India would be a socialist society with a strong public sector but also with private property 
and democracy.’ Interpret these lines of Jawahar Lal Nehru. 
4 
30 Indian economy wanted to draw India on socialist lines. What steps were taken to regulate 
private sector in this context? 
6 
31 Discuss New Economic Policy in India in context of social welfare and justice? 
OR 
New Economic policy proved to be good foe some sectors while unfruitful for some. 
Discuss. 
6 
32 a) What was the motive of British economic policies and how it had an adverse impact for 
India? 
b) Independent India built the base of country’s future on British efforts spices with selfish 
motive. Do you agree? Give reasons.  
3+3=6 
 
 
Answer Key  
Economics Class XI 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
b) Weather prediction forecast by weather department 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
by: 
c) Personal Interview 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
d) Chronological classification 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is:                                    
b) multiple bar diagram                                         
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                               
1 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
Correct Mean = X (wrong) – Incorrect value + correct value…..0.5 mk 
                                                    N 
X (wrong) = X * 100 …………0.5 mk 
= 40*100 = 4000 
Correct Mean = 4000 – (30+27) + (3+72)/100 
= 40.18………………………………………………………2 mk 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
1 mk each 
Class interval: upper class limits and lower limits of the intervals 
Frequency: number of times a number is repeating itself 
Cf: adding up the frequencies 
Variable: that keeps on changing  
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
Marks F cf 
0-10 2 2 
10-20 5 7 
20-30 8 15 
30-40 10 25 
40-50 8 33 
50-60 2 35 
60-70 3 38 
70-80 2 40 
.......1mk 
Median = 40/2 = 20 item……0.5mk 
Class limit = 30-40 
  
M = l
1 + 
 N/2 – cf/f *i…………..0.5mk 
M = 30 + 20 – 15/10 *10 
M = 35………………………………..1mk 
 
3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9 What are your reasons for studying economics? 
……1 mk each 
3 
Page 5


 
 
 
  
Date:                                           Class: XI 
Economics (030)  
Time: 3 hrs                                 M. M:100  
General Instructions: 
1. All the questions are compulsory. 
2. Questions carrying 1 mark are multiple choice questions. 
3. Questions carrying 3 marks need to be answered in 40 – 60 words.  
4. Questions carrying 4 marks need to be answered in 60 – 80 words. 
5. Questions carrying 6 marks need to be answered in 80 – 100 words. 
 
 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
a) Most preferred product declared by company on market research 
b) Weather prediction forecast by weather department 
c) All Indians are corrupt 
d) None of these 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
data by: 
a) Direct personal interview 
b) Questionnaire method 
c) Personal Interview 
d) Both a and c 
 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
a) Qualitative classification                                      b) Quantitative classification 
c) Spatial classification                                             d) Chronological classification 
 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is: 
a) sub divided bar diagram                                       b) multiple bar diagram 
c) percentage bar diagram                                        d) single bar diagram 
 
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                                     b) Median 
c) Mode                                                                     d) None of these 
1 
 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
3 
 
 
 
9 Illustrate the need for empirical analysis in economics with examples. 
OR 
Statistical analysis is of vital importance for successful businessman, economists, 
3 
 
 
administrators and educationist. Discuss with examples. 
 
10 Differentiate between mistake and errors in statistics. What are the source of these errors? 
 
3 
11 Draw  pie diagram to represent the marks obtained by Isha  in an Examination: 
Subject Isha 
Math 40 
Economics 35 
Accounts 45 
English 34 
Sociology 46 
 
OR 
Draw an appropriate Diagram for the following data: 
            Year Production ( in ‘000 tonnes) 
Wheat Rice Cotton 
2002 35 22 10 
2003 15 25 16 
2004 40 12 20 
 
4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12 Graphically determine the value of mode from the following data. 
 
X 10-19 20-29 30-39 40-49 50-59 
F 3 4 6 5 2 
 
4 
 
 
 
 
13 The combined mean weight of 150 students in the class is 60 kg. The mean weight of boys is 
70 kg and that of girls is 55 kg. Calculate the number of boys and girls in the class. 
 
4 
14 The median value of the data is given that is 40 and N = 60. Fill up the missing frequencies: 
Variable 0-10 10-30 30-60 60-80 80-90 
Frequency 5 ? ? 8 2 
 
6 
 
 
 
15 Draw the format of a table explaining all its parts. 
 
6 
16 a) Data collected at random is of no use for a statistician unless properly classified. Do you    
    agree? Give reasons.  
b) Tabulation suffers from serious limitations. Discuss. 
OR 
a) Classification needs to fulfill some requirements. What are these requirements? 
b) Diagrammatic presentation are the most effective way to present the data. Do you agree?    
    Give reasons.  
3+3=6 
 
 
 
 
 
 Part – B (Indian Economic Development) 
 
 
17 An economy will have economic development when: 
a) National Income rises 
b) Per capita income rises 
c) Population increases 
d) None of these 
1 
 
 
 
 
 
18. To resolve BOP crisis in India in 1991, the immediate action taken was: 
a) Devaluation of rupee 
b) revaluation of rupee 
c) increase in deposit rates of NRI’s 
d) Inviting Foreign direct investment 
  
1 
 
 
19 Which of the following statement is untrue: 
a) GATT was established in 1948 
b) WTO found in 1995 
c) WTO was formed as a successor of GATT 
d) None of these 
 
1 
20 Modernisation refers to 
a) use of latest technology 
b) change in social outlook 
c) Both a and b 
d) None of these 
 
1 
21 On the eve of independence, approx. ___ of country’s population derived its income from 
agriculture. 
a) 65%     b) 85%     c) 75%    d) 67% 
 
1 
22 Critically apprise some of the shortfalls of industrial policy pursued by British colonial 
administration.  
 
3 
23 Lack of dedication and implementation by the government towards the policy of the land of 
the tiller were responsible for their plight. Elaborate the statement. 
 
3 
 
24 How was the new industrial policy, 1991 was a major deviation from IPR 1956? 3 
 
25 Accelerating economic growth was the only reason to adopt New Economic Policy in 1991. 
Defend or Refute? Give reasons. 
OR 
Highlight the steps taken to increases the efficiency and competitiveness of India in 
international market to attract foreign direct investment. 
 
3 
 
26 Briefly review India’s industrial development since independence. What changes do you 
observe in India’s industrial structure? 
 
3 
27 What is the theory of demography transition? What are its stages? 
OR 
Give a brief appraisal of India’s demographic profile during the colonial period. 
 
4 
28 Do you think outsourcing is goof for India? Why developed nations are opposing it? 4 
29 ‘India would be a socialist society with a strong public sector but also with private property 
and democracy.’ Interpret these lines of Jawahar Lal Nehru. 
4 
30 Indian economy wanted to draw India on socialist lines. What steps were taken to regulate 
private sector in this context? 
6 
31 Discuss New Economic Policy in India in context of social welfare and justice? 
OR 
New Economic policy proved to be good foe some sectors while unfruitful for some. 
Discuss. 
6 
32 a) What was the motive of British economic policies and how it had an adverse impact for 
India? 
b) Independent India built the base of country’s future on British efforts spices with selfish 
motive. Do you agree? Give reasons.  
3+3=6 
 
 
Answer Key  
Economics Class XI 
 
                                                            Part – A (Statistics)  
 
 
1 Example of misuse of statistics is: 
b) Weather prediction forecast by weather department 
 
1 
2 Mc Donald’s wants to know eating pattern among children below 4 years. They will collect 
by: 
c) Personal Interview 
1 
3 Census of India depicting growth rate of population over 10 years is an example of: 
d) Chronological classification 
1 
4 Bar charts most suitable for presentation of profit and loss of a company is:                                    
b) multiple bar diagram                                         
1 
5 The measure of central tendency that is affected by extreme values is: 
a) Mean                                                               
1 
 
 
6 The mean of 100 observations was found to be 40. Later on, it was discovered that the two 
items were wrongly taken as 30 and 27 instead of 3 and 72. Find the correct mean. 
 
Correct Mean = X (wrong) – Incorrect value + correct value…..0.5 mk 
                                                    N 
X (wrong) = X * 100 …………0.5 mk 
= 40*100 = 4000 
Correct Mean = 4000 – (30+27) + (3+72)/100 
= 40.18………………………………………………………2 mk 
3 
7 Define  (any three) (a) class-interval (b) frequency  (c) cumulative frequency (d) variable 
1 mk each 
Class interval: upper class limits and lower limits of the intervals 
Frequency: number of times a number is repeating itself 
Cf: adding up the frequencies 
Variable: that keeps on changing  
 
3 
8 Calculate the median of the following distribution series: 
Marks (more than) 0 10 20 30 40 50 60 70 80 
No. of Students 40 38 33 25 15 7 5 2 0 
 
Marks F cf 
0-10 2 2 
10-20 5 7 
20-30 8 15 
30-40 10 25 
40-50 8 33 
50-60 2 35 
60-70 3 38 
70-80 2 40 
.......1mk 
Median = 40/2 = 20 item……0.5mk 
Class limit = 30-40 
  
M = l
1 + 
 N/2 – cf/f *i…………..0.5mk 
M = 30 + 20 – 15/10 *10 
M = 35………………………………..1mk 
 
3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9 What are your reasons for studying economics? 
……1 mk each 
3 
 
 
1. about how individuals, families, firms and governments deploy their scarce resources so    
     as to maximize the economic well-being of their stakeholders 
2. to study economics is that it can give you a better understanding of the   
    objectives, methods and limitations of government economic policy 
3.  economics is essential to understanding the world in which you live and work. What   
    determines the prices of the goods and services on which you spend your income. 
OR 
Discuss the importance of statistics in economic planning and business. 
Economic Planning: At every stage of economic planning we need figures and statistical 
methods. It will be then possible to assess the amount of various resources available with the 
specified rate of growth………..1.5mk 
Business: Helpful in making key decisions in estimating demand and then taking out sales 
and calculating profits…………..1.5mk 
 
10 What is meant by statistical errors? Which factors give rise to these errors?  
The difference between the collected data and actual value of facts is known as statistical 
errors…….1mk 
Errors arise due to 
1. Inadequacy: incomplete data 
2. origin error: bias of investigator, defective questionnaire in collecting data. 
1mk each 
 
3 
11 Draw pie diagram to represent the marks obtained by Isha in an Examination: 
Subject Isha Pie (degree) 
Math 40 72 
Economics 35 63 
Accounts 45 81 
English 34 61.2 
Sociology 46 82.8 
 
 
 
OR 
Draw an appropriate Diagram for the following data: 
            Year Production ( in ‘000 tonnes) 
Wheat Rice Cotton 
2002 35 22 10 
2003 15 25 16 
2004 40 12 20 
 
4 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12 Graphically determine the value of mode from the following data. 
 
X 10-19 20-29 30-39 40-49 50-59 
F 3 4 6 5 2 
 
4 
 
 
 
 
13 The combined mean weight of 150 students in the class is 60 kg. The mean weight of boys is 4 
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr