DELHI PUBLIC SCHOOL, SAHIBABAD

HALF YEARLY EXAM 2020-21

CLASS: XI
SUBJECT: ECONOMICS
Time Allowed : 3 hrs Maximum Marsks:80
General Instructions:
 All the questions in both the sections are compulsory. Marks for questions are indicated against each
question.
 Question number 1-10 and 18-27 are very short answers questions carrying 1 mark each. They are
required to be answered in one word or one sentence each.
 Question number 11-12 and 28-29 are short answers questions carrying 3 marks each. Answers to them
should not normally exceed 60-80 words.
 Question number 13-15 and 30-32 are short answers questions carrying 4 marks each. Answers to them
should not normally exceed 80-100 words.
 Question number 16-17 and 33-34 are long answers questions carrying 6 marks each. Answers to them
should not normally exceed 100-150 words.
 Answers should be brief and to the point and the above word limit be adhered to as far as possible.
SECTION- A
1. Indifference curves are convex to the origin because of 1
(a) Increasing MRS
(b) Diminishing MRS
(c) Law of Diminishing marginal utility
(d) Law of Equi-Marginal Utility

2. A consumer consumes only two goods. If price of one of the goods falls, the indifference curve: 1
(a) Shifts leftward
(b) Shifts rightward
(c) Can shift both leftward and rightward
(d) Does not shift
3. Mollie derives total utility of 10 utils after having 4 mangoes and total utility on consuming 5 mangoes 1
is 9. What is her marginal utility for the 5th mango?
4. A movement along the demand curve for soft drinks is best described as: 1
(a) Increase in demand
(b) Decrease in demand
(c) Change In quantity demanded
(d) Change in demand
5. The slope of demand curve is generally: 1
(a) Negative
(b) Positive
(c) Constant
(d) All of the above
6. If with the rise in price of good Y, demand for good rises X rises, the two goods are: 1
(a) Substitutes
(b) Complements
(c) Not related
(d) Jointly Demanded
7. Which of the following statements accurately describe the relationship between AP and MP? 1
(a) AP rises when MP is above it and falls when MP is below it
 (b) MP intersects AP at it‟s minimum point
(c) AP and MP are always parallel to each other.
(d) AP is always rising when MP is falling and vice-versa
8. _______ is the period of time in which all the factors of production are variable. 1
(a) Short-run
(b) Long-run
(c) Medium-run
(d) None of these
9. The „Marginal Product‟ of a variable input is best described as: 1
(a) Product divided by the number of units of variable unit
(b) Additional output resulting from a unit increase in the variable input
(c) Additional output resulting from a unit increase in both variable and fixed inputs
(d) Additional output resulting from a unit increase in the units produced.
10. If a good takes up significant share of consumers‟ budget, it will be: 1
(a) Less elastic
(b) Highly elastic
(c) Unitary elastic
(d) Perfectly elastic
11. When price of a god falls from Rs 10 per unit to Rs 7 per unit, the quantity demanded of the good rises 3
from 100 to 160 units. Calculate it‟s price elasticity of demand.
12. Discuss various factors that affect price elasticity of demand. 3
13. Categorize the following changes as expansion, contraction, increase or decrease in demand 4
(assuming the given commodity is a normal good)
(i) When prices of a substitute rise.
(ii) When price of the given commodity increases.
(iii) When income of the consumers increases.
(iv) When price of the given commodity is expected to fall in future.
(v) When the given commodity becomes a fashion good.
(vi) When there is sudden decrease in population due to an earthquake.
(vii) When the price of the given commodity falls.
(viii)
14. Complete the following table: 4
Units of labour Average product Marginal product
(units) (units) (units)
1 8 __
2 10 __
3 ___ 10
4 9 __
5 ____ 4
6 7 ___
15. A consumer has total money income of Rs 250 to be spent on two goods X and Y with prices of Rs 125 4
and Rs 10 respectively. On the basis of the information given, answer the following questions:
(a) Give the equation of the budget line for the consumer.
(b) What is the value of slope of the budget line?
(c) How many units can the consumer buy if he is to spend all his money income on good X?
(d) How does the budget line change if there is a fall in price of Good Y?
16. (a). Distinguish between microeconomics and macroeconomics. 6
(b). Explain the central problem of “for whom to produce”.
17. (a). A consumer consumes only two goods X and Y and is in equilibrium. Price of X falls. Explain the 6
reaction of consumer through the Utility Analysis.
(b). Show diagrammatically the conditions for consumer‟s equilibrium in Hicksian analysis of demand.

SECTION-B
18. Which economists the emphasis of economics from wealth to welfare? 1
(a) Adam smith
(b) Samuelson
(c) Alfred Marshall
(d) Lionel Robbins
19. Economic problem arises due to: 1
(a) Unlimited wants
(b) Scarcity of resources
(c) Alternative uses of resources
(d) All of the above
20. Distrust of statistics is due to: 1
(a) Misuse of statistics
(b) Insufficient statistical methods
(c) Scope of statistics is limited
(d) Limitations of statistics
21. Data from secondary source are: 1
(a) Collected for other purposes than the current study
(b) Obtained from the newspaper
(c) More reliable than data from primary source
(d) Both (a) and (b)

22. The class interval of the continuous grouped data: 1

0-5; 6-10; 11-15; 16-20; 21-25; is:
(a) 4
(b) 5
(c) 4.5
(d) None of these

23. The upper limit of class-intervals is considered for calculating: 1

(a) Less than‟ cumulative frequency
(b) „More than‟ cumulative frequency
(c) Relative frequency
(d) None of these
24. The most attractive method of data representation is: 1
(a) Diagrammatic
(b) Textual
(c) Tabular
(d) Either (a) or (b)
25. Data represented through a histogram can help in finding graphically the: 1
(a) Mean
(b) Mode
(c) Median
(d) All of the above
26. Diagrammatic representation of the cumulative frequency distribution is: 1
(a) Frequency polygon
(b) Ogive
(c) Histogram
(d) None of these
27. Distrust of statistics is due to: 1
(a) Misuse of statistics
(b) Insufficient statistical methods
 (c) Scope of statistics is limited
(d) Limitations of statistics
28. What are your reasons for studying Economics? 3
29. „The government and policy makers use statistical data to formulate suitable policies of economic 3
development‟. Illustrate with two examples.
30. Which of the following alternatives is true? 4
(i) There are many sources of data.
(ii) Telephone survey is the most suitable method of collecting data, when the population is
literate and spread over a large area.
(iii) Data collected by the investigator is called the secondary data.
(iv) There is a certain bias involved in the non-random selection of samples.
(v) Non-sampling errors can be minimized by taking large samples.Which of the following
methods give better results and why?
31. Which of the following methods give better results and why? 4
(a) Census
(b) Sample
32. Following marks were obtained by 25 students of a class in mathematics paper carrying 50 marks: 4
19 13 12 25 32 12 31 19 21 23 27 41 29 (a) C
30 45 39 33 40 17 11 20 26 14 41 15 onstr
uct a
frequency distribution when class intervals are inclusive, taking the lowest class as 10.-19. Also
construct class boundaries.
(b) Construct a frequency distribution when class intervals are exclusive, taking the lowest class as
10-20.
33. The following table shows the estimated sectoral real growth rates (percentage change over the previous 6
year) in GDP at factor cost.
Year Agriculture and allied Industry Services
sectors
1994-1995 5.0 9.2 7.0
1995-1996 -0.9 11.8 10.3
1996-1997 9.6 6.0 7.1
1997-1998 -1.9 5.9 9.0
1998-1999 7.2 4.0 8.3
1999-2000 0.8 6.9 8.2

Represent the data as multiple time series graphs.

34. Prepare histogram for the following data: 6
Marks 0-10 10-20 20-30 30-60 60-80 80-90 90-100
No. of 5 10 4 18 4 3 9
students