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Subject Economics
1. Which of the following is the example of economic activity. (1)
(a) Production (b) Consumption (c) Exchange (d) All of these
2. Define opportunity cost? (1)
3. What do you mean by contraction in Demand? (1)
4. What does break-even point indicate? (1)
(a) TR > TC (b) TR < TC (c) TR = TC (d) TC = 0
5. Explain the central problem ‘For whom to Produce. (3)
6. Distinguish between fixed costs and variable costs. Give two examples of
each. (3)
7. A consumer buys 100 units of Good-Y at ` 5 per unit. The price elasticity for the
Good is 2. At what price will he be willing to buy 140 units of Good-Y. (4)
8. What do you understand by consumer’s equilibrium? Explain consumer’s equi-
librium in case of a single commodity. (4)
9. Explain any four factors that affects the elasticity of demand. (4)
10. Explain the characteristic features of oligopoly. Also distinguish between collu-
sive and non-collusive oligopoly. (6)
11. Explain with the help of diagrams, the effect of the following changes on de-
mand for a good (6)
(1) Rise in the income of its buyers.
(2) Fall in the income of its buyers.
12. Given below is a cost an revenue schedule of a producer. At what level of
output is the producer in equilibrium Give answer the suitable reason. (6)
Quantity Sold Units Price (` Per Unit) Total Cost (`)
1 15 14
2 16 24
3 17 30
4 18 51
5 19 75
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Page 2


Subject Economics
1. Which of the following is the example of economic activity. (1)
(a) Production (b) Consumption (c) Exchange (d) All of these
2. Define opportunity cost? (1)
3. What do you mean by contraction in Demand? (1)
4. What does break-even point indicate? (1)
(a) TR > TC (b) TR < TC (c) TR = TC (d) TC = 0
5. Explain the central problem ‘For whom to Produce. (3)
6. Distinguish between fixed costs and variable costs. Give two examples of
each. (3)
7. A consumer buys 100 units of Good-Y at ` 5 per unit. The price elasticity for the
Good is 2. At what price will he be willing to buy 140 units of Good-Y. (4)
8. What do you understand by consumer’s equilibrium? Explain consumer’s equi-
librium in case of a single commodity. (4)
9. Explain any four factors that affects the elasticity of demand. (4)
10. Explain the characteristic features of oligopoly. Also distinguish between collu-
sive and non-collusive oligopoly. (6)
11. Explain with the help of diagrams, the effect of the following changes on de-
mand for a good (6)
(1) Rise in the income of its buyers.
(2) Fall in the income of its buyers.
12. Given below is a cost an revenue schedule of a producer. At what level of
output is the producer in equilibrium Give answer the suitable reason. (6)
Quantity Sold Units Price (` Per Unit) Total Cost (`)
1 15 14
2 16 24
3 17 30
4 18 51
5 19 75
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13. Which of the following is a source of secondary data? (1)
(a) Government publication (b) Private publication
(c) Report published by State Bank of India
(d) All of these
14. What is meant by tabulation? (1)
15. Define variable? (1)
16. Bar diagram is a (1)
(a) One dimensional diagram
(b) Two dimensional diagram
(c) Diagram with no dimension
(d) None of these above
17. Explain any three merits of sampling method. (3)
18. Distinguish between primary data and secondary data? (3)
19. Calculate Arithmetic mean by using step-deviation method. (4)
Marks 0-10 10-20 20-30 30-40 40-50
No. of Student 20 24 40 36 20
20. What do you mean by a circular diagram? Present the data on expenditure of
a labour family in the form of circular diagram? (4)
Items of Expenditure Food Clothing Housing Fuel and Light Other
Percentage of Income 65 15 12 5 3
spent
21. What is an Index number? Point out its limitation. (4)
22. Calculate mode from following table : (6)
Size 6-10 11-15 16-20 21-25 26-30
Frequency 20 30 50 40 10
23. Explain the concept of correlation. What is the basic difference between
(i) Linear and non-linear correlation and
(ii) Positive and negative correlation.
24. Calculate standard deviation of the marks of following 10 students : (6)
S.No. 1 2 3 4 5 6 7 8 9 10
Marks 43 48 65 57 31 60 37 48 78 59
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