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Page 1
Date: Class: XI
Economics(030)
Time: 3 hrs M. M: 100
General Instructions:
1. The questions carrying 1 mark are multiple choice questions.
2. The questions carrying 3 marks should be answered in not more than 40-60 words.
3. The questions carrying 4 marks should be answered in not more than 60-80 words.
4. The questions carrying 6 marks should be answered in not more than 80-100 words.
5. All the questions are compulsory.
PART - A (Statistics)
1. Which of the following methods is used when an investigator collects the required information
with the informant?
a) Direct Personal Investigation b)Indirect oral investigation
c)Mailing method d)Enumerator’s method
1
2. In temporal classification ,data can be classified on the basis of :
a) location b) time c) originality d) purpose
1
3. Diagrams which are used to compare the net changes of related variables with respect to time
and location are:
a) Bilateral diagram b) angular circular diagram
b) multiple bar diagram d) simple bar diagram
1
4. Normal curves are also known as:
a) J-shaped curves b) L-shaped curves c) U-shaped curves d) bell-shaped curves
1
5. Arithmetic mean of a series is 15 and if 5 is added in all the items of this series, the new
arithmetic mean will be:
a)5 b) 20 c)18 d)10
1
6. Distinguish between external and internal sources of data.
OR
Point out the major problems in constructing schedules and questionnaires.
3
7. An examination was held to decide the award of a scholarship. The weights of various subjects
were different.
The marks obtained by 3 candidates (out of 100 in each subject) are given below :-
Subject Weights Marks of
Student A
Marks of
Student B
Marks of
Student C
Maths 4 60 57 62
Business Studies 3 62 61 67
Economics 2 55 53 60
English 1 67 77 49
Calculate the weighted arithmetic mean to award the scholarship.
3
8. State the steps for drawing frequency polygon in case of discrete series. 3
Page 2
Date: Class: XI
Economics(030)
Time: 3 hrs M. M: 100
General Instructions:
1. The questions carrying 1 mark are multiple choice questions.
2. The questions carrying 3 marks should be answered in not more than 40-60 words.
3. The questions carrying 4 marks should be answered in not more than 60-80 words.
4. The questions carrying 6 marks should be answered in not more than 80-100 words.
5. All the questions are compulsory.
PART - A (Statistics)
1. Which of the following methods is used when an investigator collects the required information
with the informant?
a) Direct Personal Investigation b)Indirect oral investigation
c)Mailing method d)Enumerator’s method
1
2. In temporal classification ,data can be classified on the basis of :
a) location b) time c) originality d) purpose
1
3. Diagrams which are used to compare the net changes of related variables with respect to time
and location are:
a) Bilateral diagram b) angular circular diagram
b) multiple bar diagram d) simple bar diagram
1
4. Normal curves are also known as:
a) J-shaped curves b) L-shaped curves c) U-shaped curves d) bell-shaped curves
1
5. Arithmetic mean of a series is 15 and if 5 is added in all the items of this series, the new
arithmetic mean will be:
a)5 b) 20 c)18 d)10
1
6. Distinguish between external and internal sources of data.
OR
Point out the major problems in constructing schedules and questionnaires.
3
7. An examination was held to decide the award of a scholarship. The weights of various subjects
were different.
The marks obtained by 3 candidates (out of 100 in each subject) are given below :-
Subject Weights Marks of
Student A
Marks of
Student B
Marks of
Student C
Maths 4 60 57 62
Business Studies 3 62 61 67
Economics 2 55 53 60
English 1 67 77 49
Calculate the weighted arithmetic mean to award the scholarship.
3
8. State the steps for drawing frequency polygon in case of discrete series. 3
9.
In a certain examination, the average grade of all the students in class ‘A’ is 68.4 and of
students of class ‘B’ is 71.2. If the average of both the classes combined is 70, find the ratio of
the number of students in class A and class B.
3
10. “A well wrapped statistics is better than Hitler’s ‘big lie’, it misleads, yet it cannot be pinned
on you.” Discuss.
3
11. The following table shows the estimated sectoral real growth rates in GDP at factor cost .Give a
suitable graphical presentation .
Year Primary
Sector
Secondary
Sector
Tertiary
Sector
1994- 95 5.0 9.2 7.0
1995 -96 -0.9 11.8 10.3
1996- 97 9.5 6.0 7.1
1997- 98 -1.9 5.9 9.0
1998- 99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
OR
What is the difference between diagrams and graphs? Give examples.
4
12. Convert the following information into an ordinary frequency table and find out the mode:
5 students get less than 3 marks
12 students get less than 6 marks
25 students gets less than 9 marks
30 students get less than 12 marks
4
13. Compare the arithmetic mean, median and mode as measures of central tendency. Describe
situations where one is more suitable than the others.
4
14. The mean salary of 1000 employees of an establishment was found to be Rs541.29. Later on
after disbursement of salary it was discovered that the salary of two employees was wrongly
entered as
Rs 891 and Rs 495.The correct salaries were Rs 591 and Rs 555. Find the correct arithmetic
mean.
Give the formulae for Charlier’s Accuracy Check if there is continuous frequency
distribution.
OR
Show the relationship between mean , median and mode in symmetrical and asymmetrical
distribution through diagrams.
(4+2)=
6
15. a) Illustrate the need for empirical analysis in economics with two examples.
b) Giving example explain two fold and manifold qualitative classification.
(3+3)=
6
16. The following table gives the distribution of monthly salary of 900 employees. However, the
frequencies of the classes 40-50 and 60-70 are missing. If the median of the distribution is Rs.
59.25, find the missing frequencies.
Salaries
(Rs in ‘000)
30-40 40-50 50-60 60-70 70-80
No. of
employees
120 ? 200 ? 185
6
Page 3
Date: Class: XI
Economics(030)
Time: 3 hrs M. M: 100
General Instructions:
1. The questions carrying 1 mark are multiple choice questions.
2. The questions carrying 3 marks should be answered in not more than 40-60 words.
3. The questions carrying 4 marks should be answered in not more than 60-80 words.
4. The questions carrying 6 marks should be answered in not more than 80-100 words.
5. All the questions are compulsory.
PART - A (Statistics)
1. Which of the following methods is used when an investigator collects the required information
with the informant?
a) Direct Personal Investigation b)Indirect oral investigation
c)Mailing method d)Enumerator’s method
1
2. In temporal classification ,data can be classified on the basis of :
a) location b) time c) originality d) purpose
1
3. Diagrams which are used to compare the net changes of related variables with respect to time
and location are:
a) Bilateral diagram b) angular circular diagram
b) multiple bar diagram d) simple bar diagram
1
4. Normal curves are also known as:
a) J-shaped curves b) L-shaped curves c) U-shaped curves d) bell-shaped curves
1
5. Arithmetic mean of a series is 15 and if 5 is added in all the items of this series, the new
arithmetic mean will be:
a)5 b) 20 c)18 d)10
1
6. Distinguish between external and internal sources of data.
OR
Point out the major problems in constructing schedules and questionnaires.
3
7. An examination was held to decide the award of a scholarship. The weights of various subjects
were different.
The marks obtained by 3 candidates (out of 100 in each subject) are given below :-
Subject Weights Marks of
Student A
Marks of
Student B
Marks of
Student C
Maths 4 60 57 62
Business Studies 3 62 61 67
Economics 2 55 53 60
English 1 67 77 49
Calculate the weighted arithmetic mean to award the scholarship.
3
8. State the steps for drawing frequency polygon in case of discrete series. 3
9.
In a certain examination, the average grade of all the students in class ‘A’ is 68.4 and of
students of class ‘B’ is 71.2. If the average of both the classes combined is 70, find the ratio of
the number of students in class A and class B.
3
10. “A well wrapped statistics is better than Hitler’s ‘big lie’, it misleads, yet it cannot be pinned
on you.” Discuss.
3
11. The following table shows the estimated sectoral real growth rates in GDP at factor cost .Give a
suitable graphical presentation .
Year Primary
Sector
Secondary
Sector
Tertiary
Sector
1994- 95 5.0 9.2 7.0
1995 -96 -0.9 11.8 10.3
1996- 97 9.5 6.0 7.1
1997- 98 -1.9 5.9 9.0
1998- 99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
OR
What is the difference between diagrams and graphs? Give examples.
4
12. Convert the following information into an ordinary frequency table and find out the mode:
5 students get less than 3 marks
12 students get less than 6 marks
25 students gets less than 9 marks
30 students get less than 12 marks
4
13. Compare the arithmetic mean, median and mode as measures of central tendency. Describe
situations where one is more suitable than the others.
4
14. The mean salary of 1000 employees of an establishment was found to be Rs541.29. Later on
after disbursement of salary it was discovered that the salary of two employees was wrongly
entered as
Rs 891 and Rs 495.The correct salaries were Rs 591 and Rs 555. Find the correct arithmetic
mean.
Give the formulae for Charlier’s Accuracy Check if there is continuous frequency
distribution.
OR
Show the relationship between mean , median and mode in symmetrical and asymmetrical
distribution through diagrams.
(4+2)=
6
15. a) Illustrate the need for empirical analysis in economics with two examples.
b) Giving example explain two fold and manifold qualitative classification.
(3+3)=
6
16. The following table gives the distribution of monthly salary of 900 employees. However, the
frequencies of the classes 40-50 and 60-70 are missing. If the median of the distribution is Rs.
59.25, find the missing frequencies.
Salaries
(Rs in ‘000)
30-40 40-50 50-60 60-70 70-80
No. of
employees
120 ? 200 ? 185
6
PART – B (Indian Economic Development)
17. Whose estimates among the following were considered significant for national income
calculations during the colonial period.
i) Dadabhai Naroji ii) William Digby iii) V.K.R.V.Rao iv) R.C.Desai
1
18. Nehruji was basically a sympathizer of
i) Capitalism ii) Socialism iii) Mixed economy iv) All the above
1
19. When was the first Industrial Policy Resolution started in India ?
i) 1947 ii) 1948 iii)1951 iv) 1956
1
20. The financial sector in India is controlled by
i) The RBI ii) The BSE iii) The government iv) The SEBI
1
21. Which one of these is not a Navratana Company ?
i) Air India ii) ONGC iii) SAIL iv) BHEL
1
22. Railways were considered as one of the most important contribution of British in India.
Explain.
3
23. Highlight the steps taken to increase the efficiency and competitiveness of India in International
market to attract foreign direct investment (FDI)
OR
What are the changes in FDI from 1991 to 2014-15? Why the limit has been increased?
Discuss.
3
24. In order to protect domestic industries, India was following a regime of quantitative restrictions
on imports. Discuss the modifications made after 1991.
3
25. Bring out the significance of small scale industries in achieving the 'employment' and 'equity'
goal of India.
3
26. How was private sector regulated under the Industrial Policy Resolution (IPR) 1956?
3
27. What was the nature and impact of discriminatory tariff policy pursued under colonial rule? 4
28. What were Euro Zone crisis 2013-14? What impact it has on India?
OR
The new agriculture strategy was a package approach. Discuss
4
29. The New Economic Policy was the only way out for India in 1991.Analyse this statement.
4
30. India inherited a legacy of challenges from the British. Explain.
6
31. Mention two functions of the WTO. What matter is currently in news regarding WTO and
developing countries?
6
32. It is said New economic policy is liberal, Do you agree? Give arguments in support of your
answer.
OR
Explain the concept of inclusive growth. Is it achievable under New Economic Policy? Explain.
6
Page 4
Date: Class: XI
Economics(030)
Time: 3 hrs M. M: 100
General Instructions:
1. The questions carrying 1 mark are multiple choice questions.
2. The questions carrying 3 marks should be answered in not more than 40-60 words.
3. The questions carrying 4 marks should be answered in not more than 60-80 words.
4. The questions carrying 6 marks should be answered in not more than 80-100 words.
5. All the questions are compulsory.
PART - A (Statistics)
1. Which of the following methods is used when an investigator collects the required information
with the informant?
a) Direct Personal Investigation b)Indirect oral investigation
c)Mailing method d)Enumerator’s method
1
2. In temporal classification ,data can be classified on the basis of :
a) location b) time c) originality d) purpose
1
3. Diagrams which are used to compare the net changes of related variables with respect to time
and location are:
a) Bilateral diagram b) angular circular diagram
b) multiple bar diagram d) simple bar diagram
1
4. Normal curves are also known as:
a) J-shaped curves b) L-shaped curves c) U-shaped curves d) bell-shaped curves
1
5. Arithmetic mean of a series is 15 and if 5 is added in all the items of this series, the new
arithmetic mean will be:
a)5 b) 20 c)18 d)10
1
6. Distinguish between external and internal sources of data.
OR
Point out the major problems in constructing schedules and questionnaires.
3
7. An examination was held to decide the award of a scholarship. The weights of various subjects
were different.
The marks obtained by 3 candidates (out of 100 in each subject) are given below :-
Subject Weights Marks of
Student A
Marks of
Student B
Marks of
Student C
Maths 4 60 57 62
Business Studies 3 62 61 67
Economics 2 55 53 60
English 1 67 77 49
Calculate the weighted arithmetic mean to award the scholarship.
3
8. State the steps for drawing frequency polygon in case of discrete series. 3
9.
In a certain examination, the average grade of all the students in class ‘A’ is 68.4 and of
students of class ‘B’ is 71.2. If the average of both the classes combined is 70, find the ratio of
the number of students in class A and class B.
3
10. “A well wrapped statistics is better than Hitler’s ‘big lie’, it misleads, yet it cannot be pinned
on you.” Discuss.
3
11. The following table shows the estimated sectoral real growth rates in GDP at factor cost .Give a
suitable graphical presentation .
Year Primary
Sector
Secondary
Sector
Tertiary
Sector
1994- 95 5.0 9.2 7.0
1995 -96 -0.9 11.8 10.3
1996- 97 9.5 6.0 7.1
1997- 98 -1.9 5.9 9.0
1998- 99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
OR
What is the difference between diagrams and graphs? Give examples.
4
12. Convert the following information into an ordinary frequency table and find out the mode:
5 students get less than 3 marks
12 students get less than 6 marks
25 students gets less than 9 marks
30 students get less than 12 marks
4
13. Compare the arithmetic mean, median and mode as measures of central tendency. Describe
situations where one is more suitable than the others.
4
14. The mean salary of 1000 employees of an establishment was found to be Rs541.29. Later on
after disbursement of salary it was discovered that the salary of two employees was wrongly
entered as
Rs 891 and Rs 495.The correct salaries were Rs 591 and Rs 555. Find the correct arithmetic
mean.
Give the formulae for Charlier’s Accuracy Check if there is continuous frequency
distribution.
OR
Show the relationship between mean , median and mode in symmetrical and asymmetrical
distribution through diagrams.
(4+2)=
6
15. a) Illustrate the need for empirical analysis in economics with two examples.
b) Giving example explain two fold and manifold qualitative classification.
(3+3)=
6
16. The following table gives the distribution of monthly salary of 900 employees. However, the
frequencies of the classes 40-50 and 60-70 are missing. If the median of the distribution is Rs.
59.25, find the missing frequencies.
Salaries
(Rs in ‘000)
30-40 40-50 50-60 60-70 70-80
No. of
employees
120 ? 200 ? 185
6
PART – B (Indian Economic Development)
17. Whose estimates among the following were considered significant for national income
calculations during the colonial period.
i) Dadabhai Naroji ii) William Digby iii) V.K.R.V.Rao iv) R.C.Desai
1
18. Nehruji was basically a sympathizer of
i) Capitalism ii) Socialism iii) Mixed economy iv) All the above
1
19. When was the first Industrial Policy Resolution started in India ?
i) 1947 ii) 1948 iii)1951 iv) 1956
1
20. The financial sector in India is controlled by
i) The RBI ii) The BSE iii) The government iv) The SEBI
1
21. Which one of these is not a Navratana Company ?
i) Air India ii) ONGC iii) SAIL iv) BHEL
1
22. Railways were considered as one of the most important contribution of British in India.
Explain.
3
23. Highlight the steps taken to increase the efficiency and competitiveness of India in International
market to attract foreign direct investment (FDI)
OR
What are the changes in FDI from 1991 to 2014-15? Why the limit has been increased?
Discuss.
3
24. In order to protect domestic industries, India was following a regime of quantitative restrictions
on imports. Discuss the modifications made after 1991.
3
25. Bring out the significance of small scale industries in achieving the 'employment' and 'equity'
goal of India.
3
26. How was private sector regulated under the Industrial Policy Resolution (IPR) 1956?
3
27. What was the nature and impact of discriminatory tariff policy pursued under colonial rule? 4
28. What were Euro Zone crisis 2013-14? What impact it has on India?
OR
The new agriculture strategy was a package approach. Discuss
4
29. The New Economic Policy was the only way out for India in 1991.Analyse this statement.
4
30. India inherited a legacy of challenges from the British. Explain.
6
31. Mention two functions of the WTO. What matter is currently in news regarding WTO and
developing countries?
6
32. It is said New economic policy is liberal, Do you agree? Give arguments in support of your
answer.
OR
Explain the concept of inclusive growth. Is it achievable under New Economic Policy? Explain.
6
CLASS XI ANSWER KEY
PART A
1. a 2.b 3.a 4.d 5. B…………1mk each
6. external sources are secondary sources that are published and unpublished and time and money saving
already collected so needs modification.
Internal are primary investigator collects himself and needs no modification…………1.5 each
OR
Problems:
a) language
b) fail pilot survey
c) needs to fulfill everybody requirements…………………1mk each
7.
Subject Weights Xa WXa Xb WXb Xc WXc
Maths 4 60 240 57 228 62 248
Business Studies 3 62 186 61 183 67 201
Economics 2 55 110 53 106 60 120
English 1 67 67 77 77 49 49
Total 10 244 603 248 594 238 618
1.5mk
X wa = 603/10 = 60.3 ; X wb = 594/10 = 59.4 ; X wc = 618/10 = 61.8……………1mk
C should get the scholarship as his weighted mean is highest among the three……..0.5mk
11. Graph………………………………………………………………………..marks accordingly
Year Primary Sector Secondary Sector Tertiary Sector
1994- 95 5.0 9.2 7.0
1995 -96 -0.9 11.8 10.3
1996- 97 9.5 6.0 7.1
1997- 98 -1.9 5.9 9.0
1998- 99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
Or
Diagrams are pie or frequency could represent both with time and discrete series but graphs represents only time
data. Example could be given……………………………………………………………………………2 mk and
2 for diagram
8. The steps for drawing frequency polygon in case of discrete series are :-
i) Take the values on y-axis and frequency on x-axis.
Ii ) Joint the points plotted for the values corresponding to their frequencies by straight lines to get frequency
polygon.
iii) Extend the ends of frequency polygon to the base line. 1mk each
10.
Daily
wages(Rs.)
60-90 90-120 120-150 150-180` 180-210
No. of workers 11 14 25 12 8
Page 5
Date: Class: XI
Economics(030)
Time: 3 hrs M. M: 100
General Instructions:
1. The questions carrying 1 mark are multiple choice questions.
2. The questions carrying 3 marks should be answered in not more than 40-60 words.
3. The questions carrying 4 marks should be answered in not more than 60-80 words.
4. The questions carrying 6 marks should be answered in not more than 80-100 words.
5. All the questions are compulsory.
PART - A (Statistics)
1. Which of the following methods is used when an investigator collects the required information
with the informant?
a) Direct Personal Investigation b)Indirect oral investigation
c)Mailing method d)Enumerator’s method
1
2. In temporal classification ,data can be classified on the basis of :
a) location b) time c) originality d) purpose
1
3. Diagrams which are used to compare the net changes of related variables with respect to time
and location are:
a) Bilateral diagram b) angular circular diagram
b) multiple bar diagram d) simple bar diagram
1
4. Normal curves are also known as:
a) J-shaped curves b) L-shaped curves c) U-shaped curves d) bell-shaped curves
1
5. Arithmetic mean of a series is 15 and if 5 is added in all the items of this series, the new
arithmetic mean will be:
a)5 b) 20 c)18 d)10
1
6. Distinguish between external and internal sources of data.
OR
Point out the major problems in constructing schedules and questionnaires.
3
7. An examination was held to decide the award of a scholarship. The weights of various subjects
were different.
The marks obtained by 3 candidates (out of 100 in each subject) are given below :-
Subject Weights Marks of
Student A
Marks of
Student B
Marks of
Student C
Maths 4 60 57 62
Business Studies 3 62 61 67
Economics 2 55 53 60
English 1 67 77 49
Calculate the weighted arithmetic mean to award the scholarship.
3
8. State the steps for drawing frequency polygon in case of discrete series. 3
9.
In a certain examination, the average grade of all the students in class ‘A’ is 68.4 and of
students of class ‘B’ is 71.2. If the average of both the classes combined is 70, find the ratio of
the number of students in class A and class B.
3
10. “A well wrapped statistics is better than Hitler’s ‘big lie’, it misleads, yet it cannot be pinned
on you.” Discuss.
3
11. The following table shows the estimated sectoral real growth rates in GDP at factor cost .Give a
suitable graphical presentation .
Year Primary
Sector
Secondary
Sector
Tertiary
Sector
1994- 95 5.0 9.2 7.0
1995 -96 -0.9 11.8 10.3
1996- 97 9.5 6.0 7.1
1997- 98 -1.9 5.9 9.0
1998- 99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
OR
What is the difference between diagrams and graphs? Give examples.
4
12. Convert the following information into an ordinary frequency table and find out the mode:
5 students get less than 3 marks
12 students get less than 6 marks
25 students gets less than 9 marks
30 students get less than 12 marks
4
13. Compare the arithmetic mean, median and mode as measures of central tendency. Describe
situations where one is more suitable than the others.
4
14. The mean salary of 1000 employees of an establishment was found to be Rs541.29. Later on
after disbursement of salary it was discovered that the salary of two employees was wrongly
entered as
Rs 891 and Rs 495.The correct salaries were Rs 591 and Rs 555. Find the correct arithmetic
mean.
Give the formulae for Charlier’s Accuracy Check if there is continuous frequency
distribution.
OR
Show the relationship between mean , median and mode in symmetrical and asymmetrical
distribution through diagrams.
(4+2)=
6
15. a) Illustrate the need for empirical analysis in economics with two examples.
b) Giving example explain two fold and manifold qualitative classification.
(3+3)=
6
16. The following table gives the distribution of monthly salary of 900 employees. However, the
frequencies of the classes 40-50 and 60-70 are missing. If the median of the distribution is Rs.
59.25, find the missing frequencies.
Salaries
(Rs in ‘000)
30-40 40-50 50-60 60-70 70-80
No. of
employees
120 ? 200 ? 185
6
PART – B (Indian Economic Development)
17. Whose estimates among the following were considered significant for national income
calculations during the colonial period.
i) Dadabhai Naroji ii) William Digby iii) V.K.R.V.Rao iv) R.C.Desai
1
18. Nehruji was basically a sympathizer of
i) Capitalism ii) Socialism iii) Mixed economy iv) All the above
1
19. When was the first Industrial Policy Resolution started in India ?
i) 1947 ii) 1948 iii)1951 iv) 1956
1
20. The financial sector in India is controlled by
i) The RBI ii) The BSE iii) The government iv) The SEBI
1
21. Which one of these is not a Navratana Company ?
i) Air India ii) ONGC iii) SAIL iv) BHEL
1
22. Railways were considered as one of the most important contribution of British in India.
Explain.
3
23. Highlight the steps taken to increase the efficiency and competitiveness of India in International
market to attract foreign direct investment (FDI)
OR
What are the changes in FDI from 1991 to 2014-15? Why the limit has been increased?
Discuss.
3
24. In order to protect domestic industries, India was following a regime of quantitative restrictions
on imports. Discuss the modifications made after 1991.
3
25. Bring out the significance of small scale industries in achieving the 'employment' and 'equity'
goal of India.
3
26. How was private sector regulated under the Industrial Policy Resolution (IPR) 1956?
3
27. What was the nature and impact of discriminatory tariff policy pursued under colonial rule? 4
28. What were Euro Zone crisis 2013-14? What impact it has on India?
OR
The new agriculture strategy was a package approach. Discuss
4
29. The New Economic Policy was the only way out for India in 1991.Analyse this statement.
4
30. India inherited a legacy of challenges from the British. Explain.
6
31. Mention two functions of the WTO. What matter is currently in news regarding WTO and
developing countries?
6
32. It is said New economic policy is liberal, Do you agree? Give arguments in support of your
answer.
OR
Explain the concept of inclusive growth. Is it achievable under New Economic Policy? Explain.
6
CLASS XI ANSWER KEY
PART A
1. a 2.b 3.a 4.d 5. B…………1mk each
6. external sources are secondary sources that are published and unpublished and time and money saving
already collected so needs modification.
Internal are primary investigator collects himself and needs no modification…………1.5 each
OR
Problems:
a) language
b) fail pilot survey
c) needs to fulfill everybody requirements…………………1mk each
7.
Subject Weights Xa WXa Xb WXb Xc WXc
Maths 4 60 240 57 228 62 248
Business Studies 3 62 186 61 183 67 201
Economics 2 55 110 53 106 60 120
English 1 67 67 77 77 49 49
Total 10 244 603 248 594 238 618
1.5mk
X wa = 603/10 = 60.3 ; X wb = 594/10 = 59.4 ; X wc = 618/10 = 61.8……………1mk
C should get the scholarship as his weighted mean is highest among the three……..0.5mk
11. Graph………………………………………………………………………..marks accordingly
Year Primary Sector Secondary Sector Tertiary Sector
1994- 95 5.0 9.2 7.0
1995 -96 -0.9 11.8 10.3
1996- 97 9.5 6.0 7.1
1997- 98 -1.9 5.9 9.0
1998- 99 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2
Or
Diagrams are pie or frequency could represent both with time and discrete series but graphs represents only time
data. Example could be given……………………………………………………………………………2 mk and
2 for diagram
8. The steps for drawing frequency polygon in case of discrete series are :-
i) Take the values on y-axis and frequency on x-axis.
Ii ) Joint the points plotted for the values corresponding to their frequencies by straight lines to get frequency
polygon.
iii) Extend the ends of frequency polygon to the base line. 1mk each
10.
Daily
wages(Rs.)
60-90 90-120 120-150 150-180` 180-210
No. of workers 11 14 25 12 8
16.
Salaries in ‘000 ( X) No. of employees (f) c.f.
30-40 120 120
40-50 F1 120 + f1
50-60 200 320 + f1
60-70 F2 320 + f1 + f2
70-80 185 900
?f = 900
Me = N/2 = 900/2 = 450
th
item………………1mk
L1 = 50 ,cf = 120 + f1 , f = 200 , I = 10……………..1mk
59.25 = 50 + {450 – (120 +f1)* 10}/200
59.25 – 50 = {450 – (120 + f1)}/200*10
F1 = 145……………………………………………………..2mk
120 + f1 + 200 + f2 + 185 = 900
Putting the value of f1 = 145,we get,
F2 = 250 ……………………………………………….2mk
12.
Marks Mid Point (m) No. of students ( f) fm
0- 10 5 8 40
10-20 15 12 180
20-40 30 30 900
40-70 55 6 330
70-100 85 4 340
?f = 60 ?fm = 1790
X = ? fm/?f = 1790/60 = 29.83
13. a)Comparison between Mean, Median and Mode can be done under the following heads :-
i) Rigidly defined ii)Based on all observations iii) Possess sampling stability
iv)Further algebraic treatment v) Not affected by extreme values
b)In case where we wish to make total value estimates, mean is the most appropriate average.
In case of open – ended Class intervals, mean cannot be found . hence median or mode is calculated.
If the data is qualitative then only the median will be the most appropriate average.
In case of business situations where selection of ‘ most common ‘ is to be made, then mode is the only
..3mkaverage.
14. Total salary ( calculated wrongly) of 1000 employees = 541.2 x 1000 = Rs 541200
Correct Total salary of 1000 employees – 541200 – (891 + 495) + (591 + 555) = Rs 540960
Correct Arithmetic Mean = 540960/1000 = Rs 540.96…………………………4mk
Charlier’s Accuracy Check Formulae :-…………….2mk
OR
Symmetrical distribution :-
The values of mean, median and mode are equal i.e X = Me = Z
Asymmetrical distribution :-
The values of mean, median and mode are different. The frequency curve is not bell shaped. It is either positively
skewed or negatively skewed.
positively skewed curve :- Mean > median > Mode………………………2mk
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FAQs on Class 11 Economics Previous Year Paper - 3 - Economics Class 11 - Commerce
| 1. What are the factors that determine the demand for a good or service in economics? |  |
Ans. The demand for a good or service is determined by several factors, including the price of the good or service, the income of consumers, the price of related goods, consumer preferences, and population size. The law of demand states that as the price of a good or service increases, the quantity demanded decreases, and vice versa. Changes in these factors can lead to shifts in the demand curve, resulting in changes in the quantity demanded at each price level.
| 2. How does elasticity of demand affect the pricing and sales of a product? | |
Ans. The elasticity of demand measures the responsiveness of quantity demanded to changes in price. If the demand for a product is elastic, a small change in price will cause a relatively larger change in quantity demanded. In this case, a decrease in price will lead to an increase in sales revenue, as the increase in quantity demanded outweighs the decrease in price. On the other hand, if the demand is inelastic, a change in price will have a proportionately smaller effect on quantity demanded, resulting in a smaller change in sales revenue.
| 3. What are the different types of market structures in economics? | |
Ans. In economics, there are four main types of market structures: perfect competition, monopoly, monopolistic competition, and oligopoly. Perfect competition is characterized by a large number of buyers and sellers, homogeneous products, and ease of entry and exit from the market. Monopoly occurs when there is only one seller in the market, giving them significant control over the price and quantity produced. Monopolistic competition is characterized by a large number of sellers offering differentiated products. Oligopoly refers to a market structure dominated by a few large firms.
| 4. How does inflation impact the economy and individuals? | |
Ans. Inflation is the sustained increase in the general price level of goods and services in an economy over time. It can have several impacts on the economy and individuals. Firstly, inflation erodes the purchasing power of money, as the same amount of money can buy fewer goods and services. This can reduce the standard of living for individuals and decrease their real income. Inflation also affects businesses, as they may face higher costs of production and uncertainty in planning for the future. Additionally, inflation can lead to changes in interest rates, which can affect borrowing and investment decisions.
| 5. What are the advantages and disadvantages of international trade? | |
Ans. International trade refers to the exchange of goods and services between countries. It has several advantages, such as increased market access, economies of scale, specialization, and access to resources and technology. International trade allows countries to focus on producing goods and services that they have a comparative advantage in, leading to efficiency gains. However, international trade also has some disadvantages, including the risk of job losses in certain industries, increased competition, and potential trade imbalances. It is important for countries to carefully consider these factors and implement appropriate trade policies to maximize the benefits and minimize the disadvantages of international trade.
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