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CBSE Class XI Economics

Time : 3:30 Hrs. M.M. 90
General Instructions :
· There are three sections (A,B and C) in the question paper. Section A and B carry 80 marks.
Section C is an Open Text-Based Assessment (OTBA) which carries 10 marks.
· All question are compulsory in three sections.
· Marks for questions are indicted against each.
· Questions No. 1-5 and 14-18 are very short answer questions carrying 1 mark each. They are required to be answered in one sentence each.
· Questions No. 6- 8 and 19 --21 are also short answer questions carrying 3 marks each. Answer to them should not normally exceed 60 words each.
· Questions No. 9-10 and 22-23 are also short answer questions carrying 4 marks each and required to be answered with words each.
· Questions No. 11-13 and 24-26 are long answer questions carrying 6 marks each. Answer to them should not to exceed 100 words each.
· Part C has two questions carrying 5 marks each and required to be answered after studying the Text carefully.

Part – A
Q1. Define Statistics as a Subject. (1)

Q2. What do sample in statistics mean? (1)

Q3. Give an example of exclusive frequency series. (1)

Q4. Name any two widely used index numbers. (1)

Q5. What is a base year? (1)

Q6. Compute the median from the following date.

Value	Frequency
Less than 10	11
Less than 20	18
Less than 30	34
Less than 40	48
Less than 50	60

Q7. Distinguish between absolute and relative measures of dispersion. Give one example of each (3)

Q8. Give below is the percentage of marks secured by 5 students in Economics and Statistics. Calculate Spearman’s coefficient of rank correlation. (3)

Students	Marks in Eco.	Marks in Stat.
A	60	85
B	48	60
C	49	55
D	50	65
E	55	75

Q9. Distinguish briefly between: (4)
1. Primary date and Secondary data
2. Sampling method and census method

Mid values	5	10	15	20	25	30	35	40	45
Frequency	7	13	19	24	32	28	17	8	6

Q10. Define Mode. Calculate the value of Mode form the date given below. (4)

Mid values	5	10	15	20	25	30	35	40	45
Frequency	7	13	19	24	32	28	17	8	6

Q11. Mention three advantages of diagrammatic presentation of data. Put the following information of National Income of India in the form of Pie diagram. (6)

Item	% Share
Agriculture	40
Industry	21
Transport	19
Administration	13
Banking	07

Q12. Calculate Mean Deviation and Standard Deviation form the following data. (6)

Marks	No. of Students
Below 20	8
Below 40	20
Below 60	50
Below 80	70
Below 100	80

Q13. What is an Index Number? Prepare a cost of living index number of 2010 as compared with 2004 from the date regarding family budget in a city. Interpret the result (6)

		Prices in	Prices in
Item	Weightage (in %)

		2010	2004
Food	35	1500	1400
Fuel	10	250	200
Clothing	20	750	500
Rent	15	300	200
Miscellaneous	20	400	250

PART – B

Q14. What was the Primary motive of the colonial government behind its industrial policy in
India? (1)

Q15. Give the meaning of Privatisation. (1)

Q16. What are the two major sources of Human Capital Formation in a country? (1)

Q17. Why is Minimum Support Price (MSP) fixed by the government? (1)

Q18. What do you understand by sustainable Development? (1)

Q19. How did the economic policies followed by the British in India result in economic drain? (3)

Q20. Agriculture sector appears to be adversely affected by the reform process. Why? (3)

Q21. What is poverty line? How is it estimated in India? (3)

Q22. Discuss the greatest achievement which India experienced in agriculture sector in mid 70’s (4)

Q23. Explain briefly the merits and demerits of the economic reforms introduced in 1991. (4)

Q24. Infrastructure plays significant role in economic growth and development of a nation. Do you agree? Explain. (6)

Q25. What do you know about the following?
1. Worker population ratio
2. Occupational structure
3. Disguised unemployment

Q26. Discuss the demographic indicators of India, China and Pakistan. Mention China’s
population control policy. (6)

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FAQs on CBSE Class XI Economics 2015 (Set - 1) - Commerce

1. What is the significance of GDP in measuring a country's economic growth?

Ans. GDP, or Gross Domestic Product, is a crucial indicator of a country's economic growth. It measures the total value of all goods and services produced within the country's borders in a specific period. By tracking GDP, policymakers can understand the overall health of the economy, identify trends, and make informed decisions to stimulate growth. It helps in assessing the standard of living, comparing the economic performance of different countries, and formulating effective economic policies.

2. How does inflation impact the economy?

Ans. Inflation refers to the general increase in prices over time, resulting in a decrease in the purchasing power of money. It affects the economy in several ways. Firstly, inflation erodes the value of savings and fixed incomes, reducing the real income of individuals. Secondly, it leads to uncertainty and discourages long-term investment as prices become unpredictable. Thirdly, inflation can disrupt the efficient allocation of resources, as businesses might focus on short-term gains rather than long-term productivity. Lastly, it can impact international trade competitiveness as prices increase relative to other countries.

3. What are the main causes of unemployment in an economy?

Ans. Unemployment occurs when individuals who are willing and able to work are unable to find suitable employment. The main causes of unemployment in an economy include: 1. Cyclical Unemployment: Arises due to the contraction phase of the business cycle when there is a decrease in demand for goods and services, leading to layoffs and job losses. 2. Structural Unemployment: Results from a mismatch between the skills possessed by the labor force and the skills demanded by employers. 3. Frictional Unemployment: Temporary unemployment that occurs when individuals are in the process of transitioning between jobs. 4. Seasonal Unemployment: Occurs due to the seasonal nature of certain industries or occupations. 5. Technological Unemployment: Arises when technological advancements replace human labor, leading to job losses in specific sectors.

4. What are the different types of fiscal policies used by the government to manage the economy?

Ans. Fiscal policy refers to the use of government spending and taxation to influence the economy. The main types of fiscal policies include: 1. Expansionary Fiscal Policy: Involves increasing government spending and/or decreasing taxes to stimulate economic growth during times of recession or low demand. 2. Contractionary Fiscal Policy: Involves decreasing government spending and/or increasing taxes to control inflation and reduce excessive demand. 3. Neutral Fiscal Policy: Aims to maintain a stable economy by balancing government spending and taxation. 4. Progressive Taxation: Imposes higher tax rates on individuals with higher incomes, aiming to reduce income inequality. 5. Regressive Taxation: Imposes higher tax rates on individuals with lower incomes, potentially exacerbating income inequality.

5. How does the central bank control inflation in an economy?

Ans. The central bank has several tools at its disposal to control inflation in an economy. These include: 1. Monetary Policy: The central bank can raise interest rates to reduce the money supply and curb inflation. Higher interest rates increase the cost of borrowing, reducing consumer spending and investment. 2. Open Market Operations: The central bank can buy government securities from banks, reducing the amount of money available for lending and thus curbing inflation. 3. Reserve Requirement: The central bank can increase the reserve requirement for banks, forcing them to hold a higher percentage of their deposits, thereby reducing the money supply. 4. Moral Suasion: The central bank can communicate and persuade banks to adopt certain measures to control inflation, such as tightening lending standards or reducing credit growth. 5. Exchange Rate Policy: The central bank can adjust the exchange rate to control inflation. A higher exchange rate reduces the cost of imports, helping to lower inflationary pressures.

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