RAMAKRISHNA SENIOR SECONDARY SCHOOL – Arise ... · Web viewQ. Explain consumer equilibrium in case of single commodity with the help of utility schedule. Q. a consumer consumes

RAMAKRISHNA SENIOR SECONDARY SCHOOL QUESTION BANK

CLASS – XI SUBJECT- ECONOMICS

CHAPTER –1 ECONOMICS : AN INTRODUCTION

EACHQUESTION CARRIES I MARK

Q. Define Economics.Q. Define consumption.Q. Define Production.Q. Define Exchange.Q. Define Distribution.Q. Define Investment.Q. Who is Father of economics?Q. Define Economic activities.Q. Define Non – economic activities.Q. Write any 2 examples of economic and non – economic activities.

EACH QUESTION CARRIES 3/4 MARKS

Q. Differentiate between economic activities and non-economic activities.Q. Is economics a science or an art?

CHAPTER –2 MEANING, SCOPE AND IMPORTANCE OF STATISICS

EACH QUESTION CARRIES I MARK

Q. Define statistics in singular sense.Q. Define statistics in plural sense.Q. Define qualitative data.Q. Define quantitative data.


Q. Differentiate between Quantitative data and Qualitative data.Q. What are the different stages of statistical study.Q. How is statistics important to the following :

a) Governmentb) Economicsc) Economic Planningd) Business

EACH QUESTION CARRIES 6 MARKS

Q. Explain the charateristics of statistics in plural sense.Q. Explain broad functions performed by statistics.Q. Discuss the importance of statistics in different fields.Q. Explain the limitations of statistics.

CHAPTER – 3 COLLECTION OF DATA


Q. Define the following terms:

a) Statistical enquiry or investigation.b) Investigatorc) Enumeratorsd) Respondents

Q. Define Stratified Random Sampling.

Q. Define Systematic Sampling.

Q. Define Cluster Sampling.

Q. Define Multistage Sampling.

Q. Define Judgement Sampling.

Q. Define Quota Sampling.

Q. Define convenience Sampling.

Q. Define Primary Data.

Q. Define secondary Data.


Q. Explain the sources of collection of data.

Q. Explain

a) Internal sources of collection of data.b) External sources of collection of data.

Q. Explain the following methods of collection of primary data:

a) Direct Personal Investigation.b) Indirect oral investigationc) Information from correspondentsd) Telephonic interviewse) Mailed Questionnaire Methodf) Questionnaires filled by Enumerators.

Q. Explain methods of conducting Survey

Q. Write short on the following:

a) National Sample Survey Organisation.b) Census of Indiac) Unrestricted or Simple Random Samplingd) Restricted Random Sampling

Q. Write merits and demerits of the following :

a) Direct Personal Investigation.b) Indirect oral investigationc) Information from correspondentsd) Telephonic interviewse) Mailed Questionnaire Methodf) Questionnaires filled by Enumerators.

Q. Distinguish between primary data and secondary data.

Q. Distinguish between Census method and Sampling method.


Q. Discuss any six essential characteristics of questionnaire.

Q. Explain any six merits of Sampling method.

Q. Define Random Sampling method & Explain types of Random Sampling method.

Q. Define Non – Random Sampling method & Explain types of Non – Random Sampling method.

Q. Explain the sources of secondary data.

CHAPTER –4 ORGANISATION OF DATA


Q. Define Classification. Q. State the different methods of classification.Q. What is meant by Variable or Variate?Q. State the different kinds of variables.Q. What is meant by class-interval?Q. What are class limits?Q. What does a tally bar indicate?Q. What is a class?Q. Define frequency.Q. What is meant by frequency distribution?Q. What is inclusive series?Q. What is exclusive series?Q. Define mid-point or mid-value.Q. Define class frequency.Q. Define Total frequency.Q. Define exclusive series.Q. Define inclusive series.Q. Define attribute.Q. Define Geographical ClassificationQ. Define Chronological ClassificationQ. Define Qualitative ClassificationQ. Define Quantitative Classification


Q. Briefly discuss the various kinds of statistical series.Q. Differentiate between Discrete Variable and Continuous Variable.Q. Differentiate between Variable and attribute.Q. Differentiate between Exclusive method and Inclusive method.Q. Convert the following inclusive series into an exclusive series:a)Pocket money ( )₹

20-24 25-29 30-34 35-39 40-44 45-49

No. of children

16 18 10 20 12 14

b)

Class interval

1 – 5 6 – 10 11 – 15

16 – 20

21 – 25

No. of workers

10 15 20 25 30

c)

Class interval

0 – 99 100 – 199

200 – 299

300 – 399

400 – 499

500 – 599

Frequency

2 4 5 6 3 5

Q. Convert the following cumulative series into an exclusive series:

a)

b)

Wages ( in )₹

More than 0

More than 1000

More than 2000

More than 3000

More than 4000

More than 5000

No. of workers

100 80 68 43 38 20

Q. Convert the following more than type cumulative frequency to less than type cumulative frequency.a)Marks No. of

Students (c.f.)

More than 0 50More than 10

48

More than 20

43

More than 30

33

More than 40

21

More than 50

4

b)

Q. Convert the following less than type cumulative frequency to more than type cumulative frequency.

a)

Daily Wages( )₹ No. of workers (c.f.)

less than 110 10less than 120 16less than 130 25less than 140 36less than 150 39less than 160 40

Marks Less than 20

Less than 40

Less than 60

Less than 80

Less than 100

No. of students

14 30 50 58 78

Marks No. of Students (c.f.)

More than 40 140More than 45 127More than 50 112More than 55 89More than 60 61More than 65 36More than 70 17

b)

Marks No. of Students (c.f.)

less than 45 13less than 50 28less than 55 51less than 60 79less than 65 104less than 70 123less than 75 140

Q. Prepare a frequency distribution series from the following data:

Mid points 5 10 15 20 25 30Frequency

40 60 20 10 30 40

Q. Form class-intervals with the help of mid – values given below:a)

b)

Q. The total expenditure on food per month of 30 households is as under:115 , 256 , 184 , 144 , 220 , 159 , 271 , 234 , 135 , 238 , 196 , 310 , 245 , 172 , 278 , 205 , 129 , 241 , 173 , 243 , 212 , 335 , 265 , 229 , 220 , 223 , 169 , 298 , 243 , 238Make a frequency distribution when the class-interval is of this type 100 – 150.

Q. The marks obtained by 25 students in a class are as follows:

22 , 28 , 30 , 32 , 35 , 37 , 40 , 41 , 43 , 44 , 45 , 45 , 48 , 49 , 52 , 53 , 54 , 56 , 56 , 58 , 60 , 62 , 65 , 68 , 69 Arrange the above data on frequency distribution taking class interval as 20 - 29 , 30 – 39 etc.

Q. Wages of 50 workers are given. Present them in the form of exclusive frequency distribution with class interval as 45 – 55 , 55 – 65 , etc.

95 , 92 , 91 , 90 , 88 , 82 , 86 , 87 , 87 , 88 , 70 , 72 , 76 , 77 , 77 , 79 , 79 , 79 , 79 , 78 , 78 , 68 , 67 , 67 , 66 , 65 , 63 , 63 , 63 , 63 , 64 , 58 , 59 , 60 , 60 , 60 , 60 , 61 , 62 , 62 , 62 , 55 , 55 , 55 , 56 , 57 , 54 , 53 , 52 , 52 , 50.Q. Present the following table in the form of More than series:

Class interval

10 – 20

20 – 30

30 – 40

40 – 50

50 – 60

60 – 70

70 – 80

80 – 90

Frequency 12 13 18 13 12 9 8 1Q. Convert the following data into a) less than type series b) more than type series.

Marks 20 - 29

30 – 39

40 - 49

50 - 59

60 - 69

70 – 79

No. of students

3 7 10 6 2 2

Mid – values

12.5 17.5 25.0

35.0 45.0 60.0

Frequency

7 12 18 14 10 6

Mid – values

12.5 17.5 25.0

35.0 50.0 65.0

Frequency

7 12 10 22 10 5

Q. Put the following information in the form of a frequency distribution with a difference of 5 ( Exclusive Method ) and first class interval as 20 – 25.

23 , 24 , 32 , 27 , 28 , 29 , 31 , 20 , 26 , 34 , 35 , 37 , 40 , 43 , 42 , 29 , 36 , 38 , 39 , 22 , 27 , 26 , 32 , 35 , 36 , 26 , 25 , 26 , 28 , 41.

Q. Put the following data in the form of a frequency distribution with a difference of 10 ( Inclusive Method ) and taking one of the interval as 30 – 39 :

33 , 19 , 10 , 15 , 16 , 19 , 21 , 20 , 17 , 28 , 27 , 35 , 37 , 39 , 39 , 40 , 41 , 42 , 29 , 28 , 29 , 38 , 41 , 46 , 45 , 35 , 37 , 34 , 35 , 26 , 37 , 58 , 43 , 48 , 45 , 46 , 49 , 52 , 54 , 57.

Q. With the help of following data construct a frequency distribution with a difference of 10 ( Inclusive Method) and taking first class interval as 10 – 19 :

10 , 16 , 40 , 44 , 56 , 24 , 24 , 49 , 13 , 57 , 19 , 31 , 30 , 17 , 59 , 20 , 42 , 21 , 24 , 31 , 48 , 29 , 27 , 31 , 34 , 36 , 39 , 37 , 46 , 52.Q. Convert the following simple frequency series into less than and more than cumulative frequency series:

a)

b)

Class-intervals

0 – 5 5 – 10 10 – 15

15 – 20

20 – 25

Simple frequency

10 15 25 30 10

Q. Convert the following cumulative frequency series into simple frequency series:

a)

Value Below 5

Below 10

Below 15

Below 20

Below 25

Cumulative frequency – c.f.

6 15 31 38 40

b)

Value Below 10

Below 20

Below 30

Below 40

Below 50


3 10 20 26 30

Q. Convert the following cumulative frequency distribution into simple frequency distribution .

a)

Class-intervals

0 - 10 10 - 20

20 - 30

30 - 40

40 – 50

50 - 60

Simple frequency

7 15 20 24 16 8

Value More than 0

More than 5

More than 10

More than 15

More than 20


60 55 32 7 2

b)

Value More than 0

More than 10

More than 20

More than 30

More than 40


50 35 18 10 4

Q. Convert the following inclusive series into an exclusive series:

a)

Class intervals

50 - 59 60 - 69 70 - 79 80 - 89 90 - 99

Frequency 6 14 23 11 50b)

Monthly wages

100 – 109

110 – 119

120 – 129

130 – 139

140 – 149

No. of workers

7 15 25 16 11

Q. Describe briefly the objectives of classification.Q. Discuss the essentials of a good classification.Q. Explain geographical and chronological classifications with examples.Q. Explain Quantitative and Qualitative classification with suitable examples.


Q. From the following frequency distribution, prepare ‘ less than ’ and ‘ more than ‘ cumulative frequency distribution

Wages ( in )₹

100 – 110

110 – 120

120 – 130

130 – 140

140 – 150

No. of workers

4 12 20 7 5

CHAPTER – 5 TABULAR PRESENTATION


Q. What is meant by tabulation?

Q. What is meant by caption?

Q. What is meant by stub?

Q. Give two reasons to use footnotes in a table?

Q. where is ‘ head – note ‘ placed in a table.

Q. What is the importance of table number?

Q. What is the main part of the table called?

EACH QUESTION CARRIES 3 / 4 MARKS

Q. Discuss in brief (i) Title (ii) Body of the table (iii) Table Number (iv) Caption (v) Head note (vi) Foot note (vii) Stub.

Q. Draw the format of a table.


Q. Write any six essentials of a good table.

Q. Explain different parts of a table.

CHAPTER –6 DIAGRAMMATIC PRESENTATION


Q.Define Diagrammatic Presentation of data.Q. Which bar diagram is used to show two or more characteristics of the dta?Q. Name a bar diagram where height of all the bars is the same.Q. What type of diagram will be used to depict various components of a variable?Q. What is meant by multiple bar diagram?Q. Which bar diagram is used to represent net changes in data?


Q. Differentiate between Bar diagram and Histogram.

Q. Wheat yield per hectare is given below. Show the data in a simple bar diagram.

Years 1950 – 51

1960 – 61

1970 – 71

1980 – 81

1990 – 91

2000 – 01

2010 – 11

Yield per hectare(in kg)

600 1000 1200 1400 1000 500 1700

Q. The following table gives data of food grain production. Represent in a simple bar diagram.

Year 1991 – 92

1993 – 94

1995 – 96

1997 – 98

Food grain production

1900 1800 1600 1400

Q. Present the following by a broken – scale diagram.

Years 1997 1998 1999 2000 2001Exports

80 100 138 4018 150

Q. Represent the following data in a broken – scale diagram:

Years 2002 2003 2004

2005 2006

Balance of trade

250 300 3500

500 400

( in ₹lakhs )

Q. Present the following information in a bilateral or deviation bar diagram:

a)

b)

Q. Write short note on the following types of diagram:

a) Simple bar diagramsb) Multiple bar diagramsc) Sub – divided bar diagramd) Percentage bar diagrame) Broken scale bar diagramf) Deviation bar diagramg) Pie diagram

EACH QUESTION CARRIES 6 MARK

Q. Represent the following data by multiple bar diagram.

Year 2004 – 05

2006 – 07

2008 – 09

2010 – 11

Imports (in crores)

130 150 175 200

Exports(in crores)

120 130 165 130

Q. Subsidies on food, fertilizers and export promotion given by the government are shown in the table below. Represent the data by a multiple bar diagram.

Year 2003 – 04

2004 – 05

2005 – 06

Food 1800 600 500Fertilizers 1500 800 700Export promotion

700 600 800

Q. Represent the following data with the help of multiple bar diagram.

Year 2003 2004 2005 2006 2007Exports ( in ₹crores)

56 80 85 80 90

Imports ( in ₹crores)

60 72 75 85 100

Years 2001 2002 2003 2004 2005Balance of payment ( in ₹lakhs )

70 60 -40 -30 20

Years 1994 1995 1996 1997 1998Foreign trade balance

40 60 -40 20 -60

Q. Represent the following data using sub – divided bar diagram:

Year Production (in 000 tonnes)

Production (in 000 tonnes)

Wheat Rice

2010 600 3002011 1000 2002012 900 500

Q. From the data given below, prepare a sub – divided bar diagram:

Q. Direction of exports is shown in the following table. Prepare a pie – diagram to show the percentage distribution of exports.

Country

USA Japan UK China Others

Exports ( % )

25 15 30 15 15

Q. Prepare a Pie diagram to present following data.

Items of expenditure ( of a family )

% of expenditure

Food 75Housing 20Fuel and others

5

Q. Represent the following data in a pie-diagram.

Sector Industry

Irrigation Transport and communication

Power Agriculture

Output ( % )

30 25 10 25 10

Q. Represent the data given below in a pie-diagram. The following table gives data of foodgrain production.

Year Foodgrain production ( in lakhs of tonnes )

1991 – 92 19001993 – 94 18001995 – 96 16001997 – 98 1400

Q. Show the following details of the monthly expenditure of two families given below by percentage bar diagram:

Company Revenue ( in ₹lakhs)

Expenditure ( ₹in lakhs)

A 200 150B 300 250C 500 400

Items of expenditure

Family A (Income 25000)₹

Family B (Income 40000)₹

Food 10000 12000Clothing 5000 10000House Rent 4000 6000Miscellaneous 4500 8000Savings 1500 4000

Q. Represent by means of percentage bar diagram from the following data:

Items of expenditure

Family M Family N

Food 150 350Clothing 38 120House Rent 56 130Miscellaneous 24 68Savings 70 95

Q. What are the limitations of diagrammatic presentation.

Q. What are the advantages of diagrammatic presentation.

CHAPTER – 7 GRAPHIC PRESENTATION

EACH QUESTION CARRIES 1 MARK

Q. Define the following:

a) Graphic Presentationb) Histogramc) Frequency Polygond) Frequency Curvee) Cumulative Frequency Curvef) Time Series Graph or Arithmetic Line Graph


Q. Distinguish between Bar Diagram and Histogram.

Q. Distinguish between Less than and More than ogive.

Q. Draw a histogram for the following distribution.

a)

Wages( in )₹

0 - 5 5 – 10 10 – 15 15 – 20 20 - 25 25 - 30 30 – 35

Number of workers

4 10 14 22 32 15 3

b)

Marks 0 – 10 10 – 20

20 – 30

30 – 40

40 – 50

50 – 60

60 – 70

70 – 80

Frequency 4 10 16 22 20 18 8 2

c)

Class Interval

0 – 10 10– 20 20 - 30 30 - 40 40 – 50

50 – 60

60 – 70

70 – 80

80 – 90

Frequency

4 6 7 14 16 14 8 6 5

Q. Make a frequency curve of the following data:

Class interval

0 - 10 10 - 20 20 - 30 30 - 40 40 - 50 50 – 60

Frequency 6 10 22 12 8 4

Q. From the following frequency distribution, prepare the ‘ less than ‘ ogive.

Capital 0 – 10 10 – 20 20 – 30 30 – 40 40 – 50 50 – 60 60 – 70 70 – 80Number of companies

2 3 7 11 15 7 2 3

Q. Construct frequency polygon without histogram using following data:

Wages (in )₹

0 – 10 10 – 20 20 – 30 30 – 40 40 – 50 50 – 60 60 – 70 70 – 80

Number of Workers

10 18 35 30 20 12 8 3

Q. Draw a cumulative frequency curve for the following distribution of wages of 95 workers.( less than ogive )

Weekly Wages

100 – 109 110 – 119 120 – 129 130 – 139 140 – 149 150 – 159

Workers 7 13 15 32 20 8

Q. Plot the following data of annual profits of a firm on a time series graph.

Years 2008 2009 2010 2011 2012Profit ( in thousand )₹

50 62 65 55 70


Q. Write uses of Graphic Presentation.

Q. Construct the histogram for the following distribution.

a)

Marks Obtained

0 – 10 10 -20 20 - 30 30 - 40 40 - 60 60 – 90

Number of Students

6 10 26 22 10 9

b)

Weekly wages ( )₹

10 – 15 15 – 20 20 – 25 25 – 30 30 – 40 40 – 60 60 – 80

Number 7 10 27 15 12 12 8

of Workers

C)

Marks (mid points)

150 160 170 180 190 200

No. of students

8 10 25 12 7 3

d)

Daily Wages(₹)

10 – 15 15 – 20 20 – 25 25 – 30 30 – 40 40 – 60 60 – 80

No. of Workers

7 19 28 15 12 12 8

e)

Marks 5 – 9 10 – 14 15 – 19 20 – 24 25 – 29 30 – 34Students 4 17 25 32 13 6

f)

Mid – Points

115 125 135 145 155 165 175 185 195

Frequency

6 25 48 72 116 60 38 22 3

g)

Marks 25 – 29 30 – 34 35 – 39 40 – 44 45 – 49 50 – 54 55 – 59Frequency

4 5 23 31 10 8 5

Q. Following table shows number of students of a college corresponding to different range of marks in statistics. Make a frequency polygon with and without histogram.

Marks 0 – 10 10 - 20 20 – 30 30 - 40 40 - 50 50 - 60 60 – 70No. of Students

5 10 15 20 12 8 5

Q. Draw a Frequency Polygon of the following distribution of students obtaining marks in an examination.

a)

Marks 10 – 20 20 – 30 30 – 40 40 – 50 50 – 60 60 – 70No. of students (f)

5 12 15 22 14 4

b)

Marks 20 – 29 30 – 39 40 – 49 50 – 59 60 – 69No. of students (f)

2 5 8 6 4

Q. Draw ‘ less than ogive curve ‘ and ‘ more than ogive curve ‘ on the basis of data given below:

a)

Marks 0 – 5 5 – 10 10 - 15 15 - 20 20 - 25 25 - 30 30 - 35 35 – 40Number of students

3 10 20 30 20 9 5 3

b)

Weekly Wages ( )₹

0 – 20 20 – 40 40 – 60 60 – 80 80 – 100

Number of workers

10 20 40 20 10

Q. Draw ‘ Less than ‘ and ‘ More than ‘ Ogive curve from the following data

and indicate the value of the median.

Marks 0 – 5 5 – 10 10 – 15 15 – 20 20 – 25 25 – 30 30 – 35 35 – 40Number of students

7 10 20 13 12 10 14 9

Q. The following table gives data on the production of wheat and rice

between 2008 and 2013. Make a two variable time series graph.

Year Wheat ( ‘000 kgs ) Rice ( ‘000 kgs)2008 200 502009 250 1002010 220 1502011 300 902012 320 1502013 330 200

Q. Prepare a Time Series Graph from the following:

Year Imports ( in Tonnes) Imports ( in Crores )₹2010 150 62011 250 122012 200 92013 300 152014 450 182015 550 21

CHAPTER –8 MEASURES OF CENTRAL TENDENCY( ARITHMETIC MEAN )


Q. What do you mean by measure of central tendency?Q. Give the meaning of arithmetic mean.Q. Define weighted mean.

EACH QUESTION CARRIES3/4 MARKS

Q. What is meant by weighted arithmetic mean? How is it calculated?Q. Mention the three merits of arithmetic mean.Q. Mention the three demerits of arithmetic mean.Q.Daily wages of ten workers in a factory are given below. Find the arithmetic mean by direct method.140 , 150 , 180 , 200 , 250 , 300 , 220 , 350 , 450 , 260.

Q. The following table gives the daily income of ten workers in a factory. Find the arithmetic mean by short-cut method.

120 , 150 , 180 , 200 , 250 , 300 , 220 , 350 , 370 , 260.

Q. The monthly expenditure of 5 households are:

1550 , 1715 , 1690 , 820 , 1150

Calculate arithmetic mean by direct method.

Q. Find average by short cut method of the following data:

3 , 5 , 6 , 8 , 10 , 11 , 13 , 17 , 22

Q. Daily wages of 10 families is given below. Calculate average daily wages. Use step deviation method.

90 , 120 , 80 , 85 , 90 , 130 , 200 , 225 , 255 , 295

Q. Calculate the arithmetic mean of marks of 10 students by short-cut method.

50 , 54 , 56 , 58 , 59 , 60 , 61 , 62 , 65 , 75

Q. Mean marks obtained by a student in his five subjects are 15. In English, he secured 8 marks, in economics 12, in maths 18 and in commerce 10. Find out the marks, he secured in statistics.

Q. The average marks of a student in five subjects are 80. His marks in four subjects are 37, 82, 55 and 77. Find out his marks in the fifth subject.

Q. Mean of weekly pocket money of 40 students is 265. But in the calculation , one value was read as ₹150 instead as 115. Find corrected mean.

Q. Mean of 100 observations was calculated to be 40. On checking back, it was found that 72 and 3 had been misread as 27 and 30. Find corrected mean.

Q. Students of XI – A secured 60 mean marks in English and 20 students of XI – B secured 70 mean marks in English. Find the combined mean marks in English.

Q. workers of factory A earned 400 mean wages and 80 workers of factory B earned 500 mean wages.₹ ₹ Find out combined mean wages earned by the workers.

Q. The mean height of 25 male workers in a factory is 61 cm and the mean height of 35 female workers in the same factory is 58 cm. Find the combined mean height of 60 workers in this factory.

Q. Calculate weighted mean for the following information.

Marks 10 20 30 40 50 60 70 80Weight 2 5 9 10 12 7 3 2Q. Calculate weighted arithmetic average of marks from the following data.

Subject English Mathematics Accounts EconomicsMarks 50 60 65 70Weight 4 3 2 1

Q. Following table gives the marks obtained by 100 students in a class. Calculate the arithmetic mean (average marks) by direct method.

Marks 10 20 30 40 50No. of 15 10 40 20 15

studentsQ. Calculate arithmetic mean with the help of following data. Use direct method.

Wages (in )₹

20 25 30 40 42 50

No. of workers

4 6 10 5 5 10

Q. You have been given the following table. Compute arithmetic mean by short cut method.

Salaries (in )₹

50 55 60 70 85

Workers

1 2 3 4 5

Q. Following data shows marks of 100 students in subject of economics. Calculate arithmetic mean by short cut method.

Marks 10 20 30 40 50No. of students

5 40 20 10 25

Q. Calculate average wages of workers by step – deviation method.

Wages (in )₹

10 20 30 40 50

No. of students

15 10 40 20 15

Q. Calculate average marks of the following students using step – deviation method.

x 5 15 25 35 45 55 65f 5 12 15 25 8 3 2Q. Calculate missing value if the arithmetic mean of the series is 61.88

X 64 63 ? 61 60 59F 8 18 12 9 7 6

Q. Find out the missing item x of the following distribution, where arithmetic mean is 11.37.

X 5 7 ? 11 13 16 20F 2 4 29 54 11 8 4

Q. Calculate weighted arithmetic average if

X 10 20 30 40 50W 2 3 4 6 10Q. Find out the mean of the following distribution by direct method.

Marks 0 – 4 4 – 8 8 – 12 12 – 16

16 – 20

No. of students

4 8 2 1 5

Q. Calculate the arithmetic mean from the following series by direct method:

Marks 5 – 15 15 – 25 25 – 35 35 – 45 45 – 55No. of students

8 12 15 9 6


Q. Discuss the objectives and functions for measuring central tendency.Q. What are the ideals of a good average?Q. Explain briefly merits and demerits of arithmetic mean.Q. Explain the mathematical properties of Arithmetic mean. Q. Calculate the arithmetic mean by short-cut method from the following data:

Class interval

20 – 25

25 – 30

30 – 35

35 – 40

40 – 45

45 – 50

50 – 55

Frequency 10 12 8 20 11 4 5

Q. Calculate arithmetic mean by short-cut method.

Marks 0 – 10 10 – 20

20 – 30

30 – 40

40 – 50

50 – 60

60 – 70

70 – 80

No. of students

2 7 10 15 20 16 6 4

Q. Find out arithmetic mean by step-deviation method:

Sales ( ₹lakhs)

0 – 10 10 – 20

20 – 30

30 – 40

40 – 50

50 – 60

No. of firms

12 18 27 20 17 6

Q. Find out arithmetic mean of the following data by step – deviation method.

Daily wages ( )₹

100 – 120

120 – 140

140 – 160

160 – 180

180 – 200

No. of workers

10 20 30 15 5

Q. Calculate mean from the following data using short cut method:

Marks Less than 10

Less than 20

Less than 30

Less than 40

Less than 50

No. of students

7 18 25 35 50

Q.The following schedule shows marks of students in a subject. Calculate arithmetic mean by step deviation method.

Marks More than 0

More than 2

More than 4

More than 6

More than 8

No. of students

40 35 25 18 10

Q. Calculate arithmetic mean from the following data. Use short cut method.

X Less than 10

Less than 20

Less than 30

Less than 40

Less than 50

F 5 15 55 75 100

Q. Calculate arithmetic mean from the following data. Use step deviation method.

Wages Less Less Less Less Less Less Less Less

than 10

than 20

than 30

than 40

than 50

than 60

than 70

than 80

No. of workers

5 20 45 70 80 88 98 100

Q. Following schedule gives marks obtainted by students in statistics in a class. Find out mean marks using short cut method.

Mid-values

5 10

15 20 25

30

No. of students

5 7 9 10 8 6

Q. Find out mean from the following information using step – deviation method.

Mid values

10 20

30 40

50

Frequency

8 12

15 9 6

Q. The following table shows monthly wage rate of workers in a factory. Find out the average wage rate by short cut method.

Wage rate ( )₹

20 – 29

30 – 39

40 – 49

50 – 59

60 – 69

No. of students

20 10 6 4 5

Q. Calculate arithmetic mean using step deviation method.

X 10 – 19

20 – 29

30 – 39

40 – 49

F 4 3 2 1

Q. Find the average marks from the following data. Use direct method.

Marks Less than 10

10 – 20

20 – 30

30 – 40

More than 40

No. of students

5 8 12 6 4

Q.Find the average wage rate from the data given below.

Wage rate ( )₹

Less than 20

20 – 40

40 – 60

60 – 80

More than 80

No. of workers

4 6 5 3 2

Q. Calculate arithmetic mean of the following frequency distribution. Use short cut method.

Class interval

10 – 20 20 – 40 40 – 70 70 – 120 120 – 200

Frequency 4 10 26 8 2

Q. Calculate arithmetic mean from the following data.

X 4 – 12 12 – 24 24 – 40 40 – 60 60 – 100

F 4 10 6 2 3

Q. Calculate simple arithmetic mean and weighted arithmetic mean of prices of various goods obtained by weighing each price by its quantity demanded.

Goods A B C D EPrice ( ₹per unit)

20 40 60 10 70

Quantity demanded ( units )

4 3 6 7 5

Q. Calculate simple arithmetic mean and weighted arithmetic mean of the following marks obtained by a student in different subjects:

Subjects Accountancy

English Maths Economics Political science

Marks 80 90 95 85 70Weight 2 3 1 3 1

Q. Find out missing frequency for the following data if arithmetic mean is 23.

Marks 0 – 10 10 – 20

20 – 30

30 – 40

40 – 50

No. of students

4 8 ? 6 2

Q. If the arithmetic mean of the data given below is 28, then find out the missing frequency.

X 0 – 10 10 – 20

20 – 30

30 – 40

40 – 50

50 – 60

F 12 18 27 F 17 6

Q. Calculate the mean from the following frequency distribution:

X 10 – 19 20 – 29 30 – 39 40 – 49 50 – 59 60 – 69 70 – 79 80 – 89No. of persons

32 42 40 56 20 6 2 2

Q. Following information pertains to the daily income of 150 families. Calculate the arithmetic mean.

Income More than 75

More than 85

More than 95

More than 105

More than 115

More than 125

More than 135

More than 145

No. of families

150 140 115 95 70 60 40 25

Q. If the arithmetic mean of the data given below is 33, then find out the missing frequency.

X 0 – 10 10 – 20

20 – 30

30 – 40

40 – 50

50 – 60

F 5 10 25 F 20 10

CH-10 MEASURE OF DISPERSIONEach question carries I mark

Q. What is inter quartile range?.Q. Give the formula of calculating coefficient of variation.Q. What is Lorenz Curve?Q. Calculate range22, 35, 32, 45, 42, 48, 39Q. Which graphical method is used to measure dispersion?Q. Give the meaning of dispersion.Q. How is coefficient of mean deviation computed?Q. Which measure of dispersion covers middle 50% of the items?Q. Write one major demerit of mean deviation.Q. What do you mean by relative measure of dispersion?Q. What is a line of equal distribution.Q. Write two demerits of range.Q. Which is most widely used and best measurement of dispersion.Q. Give the formula of calculating quartile deviation.Q. Write two uses of range

Each question carries 3-4 mark

Q. Mention important measures of dispersion.Q. Mention any two merits and two demerits of mean deviation.Q. Distinguish between mean deviation and standard deviation.Q. What do you understand by dispersion? Describe the various methods of computing dispersion.Q. Discuss the relative merits of range, mean deviation and standard deviation as measures of dispersion.Q. Find the range and coefficient of range of the following :Marks : 10 20 30 40 50 60 70No. of Students : 8 12 7 30 10 5 2

Q. Find out the value of quartile deviation and its coefficient from the following data.Roll No. : 1 2 3 4 5 6 7Marks : 20 28 40 12 30 15 50

Q. Calculate mean deviation from median and its coefficient from the following data :100, 150, 80, 90, 160, 200, 140Q. Calculate semi-interquartile range and its coefficient of the following data.Marks : 0-10 10-20 20-30 30-40 40-50 50-60 60-70

No. of Std. 4 8 11 15 12 6 3

Q. Calculate the standard deviation for the following data5, 8, 7, 11, 14

Q. Coefficient of variation of two series are 58% and 69% and their standard deviation are 21.2 and 15.6 what are their means?

Each question carries 6 mark

Q. Discuss the merits, demerits and uses of range.Q. What is the meaning of Lorenz curve? State the steps involved in drawing a Lorenz curve.Q. What do you mean by mean deviation? In what way is meandeviation a better measure of dispersion than range and quartile deviation?Q. What do understand by dispersion? Describe the various methods of computing dispersion?.

Q Find the range and coefficent of range of the following:Age in years : 5-10 10-15 15-20 20-25Frequency : 10 15 20 5

Q.Find out quartile deviation, Interquartile range and coefficient ofquartile deviation of the following series :Height in inches: 58 59 60 61 62 63 64 65 66No. of Plants: 2 3 6 15 10 15 4 3 1

Q. Calculate mean deviation from median.No. of fruits per plant : 0 1 2 3 4 5 6 7 8 9 10No. of Plants : 2 5 7 11 18 24 12 8 6 4 3

Q. Find mean deviation from median of the marks secured by 100students in a class test as given below :

Marks : 60-63 63-66 66-69 69-72 72-75No. of Std. 5 18 42 27 8

Q Calculate coefficient of quartile deviation from the following data:X (lessthan) 200 300 400 500 600F 8 20 40 46 50Q. Calculate standard deviation of the given data :Size : 3 4 5 6 7 8 9Frequency : 3 7 22 60 85 32 8

Q. Calculate standard deviation from the following series :Class : 0-10 10-20 20-30 30-40 40-50 50-60 60-70Frequency : 2 4 6 6 6 4 2

Q. The given table shows the daily income of workers of two factories.Draw the Lorenz curves for both the factories.Daily Income (Rs.) 0-100 100-200 200-300 300-400 400-500Factory A 8 7 5 3 2Factory B 15 5 2 1 1

Q The prices of share of company x and company y are given below.State, which company is more stable?

Company x: 25 50 45 30 70 42 36 48 34 60Company y :10 70 50 20 95 55 42 60 48 80

Q.Calculate coefficient of variation from the data given below :X : 10 11 12 13 14 15 16F : 10 25 15 5 15 2 0 10

Q. What is meant by mean deviation? Give the steps for calculatingmean deviation in case of individual series.Q.Calculate the standard deviation from following data by stepdeviation method.X : 0-10 10-20 20-30 30-40F : 2 3 4 1

CH-11 MEASURE OF CORRELATION


Q Define Correlation.Q Define Positive Correlation.Q Define Negative Correlation.Q What is Linear Correlation?Q What is Non- linear Correlation?Q What is Simple Correlation?Q What is Multiple Correlation?Q What is Partial Correlation?Q Define Karl Pearson’s Coefficient of correlation.Q What is Spearman’s Rank Correlation?

Each question carries 3-4 markS

Q Discuss the different types of correlation.Q Discuss the degrees of Correlation.

Each question carries 6 markQ Compute Karl Pearson’s coefficient of correlation from the following data:X 10 12 11 13 12 14 9 12 14 13Y 7 9 12 9 13 8 10 12 7 13

Q Compute Karl Pearson’s coefficient of correlation from the following data:X 24 27 28 28 29 30 32 33 35 35 40Y 18 20 22 25 22 28 28 30 27 30 22

Q Compute Karl Pearson’s coefficient of correlation from the following data:Price (in )₹ 5 10 15 20 25Demand (in kg)

40 35 30 25 20

Q In a dance competition , two judges accorded following ranks to the 10 participants:Judge A

1 2 3 4 5 6 7 8 9 10

Judge B

10 6 5 4 7 9 8 2 1 3

Calculate coefficient of rank correlation.

Q Calculate the coefficient of rank correlation of the following data.X 87 22 33 75 37Y 29 63 52 46 48

Q Calculate the coefficient of correlation from the following data by the Spearman’s rank correlation method.X 20 11 24 18 20 22Y 24 9 20 22 9 21

Q The ranking of ten students in two subjects A and B are as below:A 3 5 8 4 7 10 2 1 6 9B 6 4 9 8 1 2 3 10 5 7What is the coefficient of rank correlation?Q Calculate the Coefficient of rank correlation from the following data:X 75 88 95 70 60 80 81 50Y 120 134 150 115 110 140 142 100

Q In a poem recitation competition, ten participants were recorded following marks by two different judges X and Y.X 15 17 14 13 11 12 16 18 10 9Y 15 12 4 6 7 9 3 10 2 5 Q Compute Karl Pearson’s Coefficient of correlation.Marks in Mathematics

15 18 21 24 27

Marks in Accountancy

25 25 27 31 32

Q Calculate the correlation between the heights of fathers in inche X and their sons Y.X 65 66 67 68 69 70 71Y 67 68 66 69 72 72 69

Q Calculate coefficient of correlation from the following data.No. of years of schooling of Farmers

0 2 4 6 8 10 12

Annual Yield per acre(in ‘000)

4 4 6 10 10 8 7

Q Calculate coefficient of rank correlation from the following data:X 48 33 40 9 16 16 65 24 16 27Y 13 13 24 6 15 4 20 9 6 19

Q Find out rank difference correlation of X and Y.X 80 78 75 75 58 67 60 59Y 12 13 14 14 14 16 15 17

Q Find out the coefficient of rank correlation from the following data:X 25 45 35 40 15 19 35 42Y 55 60 30 35 40 42 36 48

CHAPTER – 12 INDEX NUMBERS


Q. Define Index Number.


Q. Discuss the relation between Inflation and Index Numbers

Q. Calculate Price Index number for 2005 taking 1995 as the base year from the following data by simple aggregative method.

Commodities A B C D EPrices in 1995 ( in )₹

100 80 160 220 40

Prices in 2005 ( in )₹

140 120 180 240 40

Q. Construct the index number for 2002 with 2001 as base from the following prices of commodities by simple ( Unweighted ) aggregative method.

Commodities A B C D EPrices (in ) ₹2001

50 40 10 5 2

Prices (in ) ₹2002

80 60 20 10 6

Q. Using the following data and 2000 as the base period, compute simple aggregative price indices for the two fuels.

Item Producer’s Price2000 2001 2002

Coal ( )₹ 5 3 4Crude oil ( )₹ 2 3 4

Q. Using the simple aggregative method calculate the Quantity Index number for 2004 with base 1995 from the following data:

Commodities A B C D EQuantity in 1995 ( in kg )

50 40 10 5 2

Quantity in 2004 ( in kg )

80 60 20 10 6

Q. Calculate the index number for 2002 with 2001 as base from the following prices of the commodities by simple (unweighted) aggregative method.

Commodities and unit Price (2001) Price ( 2002 )Butter per kg 20 22Milk per litre 3 4.5Cheese per tin 18 19.8Bread per kg 2 3.8Eggs per Dozen 4 4.5

Q. Construct Price Index and Quantity Index of 2005 from the following data by (i) Laspeyre’s method (ii) Paasche’s method.

Commodities 1996 ( Base 2005 ( Current

Year) yearPrice Quantity Price Quantity

A 10 30 12 50B 8 15 10 25C 6 20 6 30D 4 10 6 20

Q. Calculate price index number for 2002 of following data by weighted aggregative method using:

a) Laspeyre’s method b) Paasche’s method.

Commodity Price ( 2001 )

Quantity ( 2001 )

Price ( 2002 )

Quantity ( 2002 )

A 4 20 6 10B 3 15 5 23C 2 25 3 15D 5 10 4 40


Q. Discuss the uses of Index Numbers.

Q. Discuss the various types of Index Numbers :

a) CPIb) Index of Industrial Productionc) Wholesale Price Index Numberd) Index Number of Agricultural Production.e) Sensexf) Producer Price Index

Q. Compute index numbers for the years 1996 to 2000 from the following data (Base Year 1995 ).

Year 1995 1996 1997 1998 1999 2000Price 10 14 16 20 22 24

Q. Construct pure index number for 2005 taking 2000 as the base year from the following data by simple average of price relative method.

Commodities A B C D EPrice in 2000 ( in )₹

100 80 160 220 40

Price in 2005 ( in )₹

140 120 180 240 40

Q. calculate index number for 2002 on the base prices for 1991 from the following by average of price relative method.

Items Bricks Timber Plaster Board

Sand Cement

Prices ( 1991 )

10 20 5 2 7

Prices ( 2002 )

16 21 6 3 14

Q. Construct the index number for 2000 taking 1990 as base by Price relative method using arithmetic mean.

Commodities A B C DPrice ( 1990 ) 10 20 30 40Price ( 2000 ) 13 17 60 70

Q. From the data given below, construct Laspeyre’s and Paasche’s price index and quantity index numbers with base 2001 and interpret.

Commodity 2001 2002Price ( )₹ Quantity ( kg ) Price ( )₹ Quantity ( kg )

A 4 2 6 3B 3 5 2 1C 8 2 4 6

Q. Calculate weighted average of price relative index number of prices for 2005 on the basis of 2004 from the following data:

Commodities Weights Price 2004 Price 2005A 20 20 35B 12 15 18C 8 10 11D 4 5 5E 6 4 5

Q. Calculate price index number by weighted average of price relative method.

Commodity Price Base Year( )₹ Price Current Year( )₹

Quantity Base Year (kg)

A 6 8 40B 3 3.2 80C 2 3 20

Q. An enquiry into the budgets of the middle class families in a certain city gave following information. What is the cost of living index of 2004 as compared with 1995. Calculate by:

(i) Family budget method(ii) Aggregative expenditure method.

Items Food Fuel Clothing Rent Misc.Expenses 35% 10% 20% 15% 20%Prices (in )₹ 2004

1500 250 750 300 400

Prices (in )₹ 1995

1400 200 500 200 250

Q. From the data given below construct the consumer price index number:

Commodity Price Relatives WeightsFood 250 45Rent 150 15Clothing 320 20Fuel and Lighting 190 5Miscellaneous 300 15

MICRO ECONOMICS (CH-1 INTRODUCTION)

Each question carries I mark

Q Define Economy

Q Define Economics

Q Define Economising of resources.

Q What do you mean by economic problem

Q Define opportunity cost

Q Define marginal opportunity cost

Q Define scarcity

Q What is positive economics

Q What is normative economics

Q Define Macro Economics

Q Define Micro Economics

Q Define PPC

Q What does the downward slope of PPC indicate?

Q Why does production possibility curve looks concave to the origin

Q what does slope of PPC show?

Q When can be PPC a straight line?

Q What is the opportunity cost of an input , which has no alternate use?

Q What does the rightward shift of the PPC indicate?

Q Define marginal rate of transformation

Q When does the PPF shift to right?

Q What does the leftward shift of PPF indicate?

Q When does the PPF shift to left?

Q Identify as positive or normative economics from the following;

(1) Government should be concerned with how to reduce unemployment.

(2) Economics is the study of choices/alternatives.

(3) Equal distribution of income should make India poverty free.

(4) 25% population of India is below poverty line.

(5) Free education should be given to the poor till class XII.

(6) Prices have been rising in India.

Q Identify the following as subject matter of microeconomics or macroeconomics:

(1.) Individual income.(2.) Individual output(3.) National Income(4.) Price of a commodity(5.) Aggregate output(6.) Aggregate consumption(7.) National Output

Each question carries 3-4 marks

Q What are the central problems of the economy? Explain

Q Why do central problems arise.? State the principle reason.

Q Distinguish between Macro & micro Economics

Q Distinguish between positive and normative economics

Q State reasons why economic problems arise?

Q Discuss the three central problem of an economy, with example?

Q State the assumptions on which PPC is based

Q Draw a hypothetical PPC schedule and curve

Q State the features/characteristics of PPC

Q On a PPC show 2 combinations reflecting (a)underutilisation of resources (b) fuller utilisation of resources.

Q Explain the concept of marginal opportunity cost with example.

Q What would be likely impact of large scale inflow of foreign capital in India on PPC and why?

Q Using a diagram explain what will happen to PPC of Bihar if the river Kosi causes widespread flood?

Q what will be the impact of recently launched clean India Mission on PPC curve of the economy and why?

Q Giving reason comment on the shape of PPC curve based on the following schedule.

Good X ( in units)

Good Y ( in units)

0 201 182 143 84 0


Good X ( in units) Good Y ( in units)0 101 92 73 44 0


Good X ( in units) Good Y ( in units)0 81 62 43 24 0

Each question carries 6 marks

Q Explain with the help of a diagram and schedule ,the leftward and rightward shift in PPC

Q. Explain with the help of a diagram and schedule, the shape of PPC when(a) MRT is increasing (b)MRT is decreasing (c) MRT is constant.

MICRO ECONOMICS (CH-2 CONSUMERS EQUILIBRIUM)


Q Define utility.

Q Define total utility.

Q Define marginal utility.

Q What is consumers equilibrium?

Q Define indifference curve.

Q Define indifference map.

Q What do you mean by monotonic preferences?

Q Define marginal rate of substitution.

Q Define a budget line.

Q What is budget set?

Q What is the total utility at zero level of consumption?

Q What happens to marginal utility when total utility is maximum?

Q Define market rate of exchange or price ratio

Q Give the equation of budget line.

Q Give the equation of budget set.

Q If a consumer has monotonic preferences, can she be indifferent between the bundles (10, 8) and (8, 6)?

Q Suppose a consumer’s preferences are monotonic. What can you say about her preference ranking over the bundles (10,10) (10,9) (9,9)?

Q Suppose your friend is indifferent to the bundles (8,8) and (9,9). Are the preferences of your friend monotonic?


Q Explain the various points of relationship between marginal utility & total utility with the help of diagram & schedule.

Q How does a consumer reach equilibrium position, when he is buying only one commodity. Explain with the help of diagram & schedule.

OR

Given the market price of a good, how does a consumer decide as to how many units of a good to buy?

Q. Explain the law of diminishing marginal utility with the help of schedule.

Q. Why is indifference curve downward sloping from left to right?

OR

Why is indifference curve negatively sloped?

Q. Why indifference curve convex to the origin?

Q. Why high indifference curve shows the higher utility?

Q Discuss the two main properties of budget line.

Q. Explain the budget line with the help of hypothetical schedule & diagram.

Q. A consumer consumes only two goods X&Y , what will happen if MUx /Px is greater than the MUy/Py

Q. A consumer consumes only two goods X&Y , what will happen if MUx /Px is lesser than the MUy/Py

Q. A consumer consumes only one goods X , what will happen if MUx is greater than the Px

Q. A consumer consumes only two goods X , what will happen if MUx is lesser than the Px

Q. A person’s total utility(TU) schedule is given below. Derive marginal utility(MU)

Units 0 1 2 3 4 5TU 0 10 25 38 48 55

Q. A person’s MU schedule is given below. Calculate TU.

Units 1 2 3 4 5 6MU (in Utils) 9 6 4 2 0 -2

Q. Calculate missing figures.

Units 1 2 3 4 5TU(in utils) 16 - - - 40MU(in utils) - 12 8 6 -

Q. Following is the utility schedule of a person.

Units 1 2 3 4 5MU(in utils) 50 40 30 20 10

Suppose the commodity is sold for Rs. 4 and MU of 1 rupee is 5 utils. How many units of a commodity will the person purchase to maximize his satisfaction?

Q. Explain why the budget line is downward sloping?

Q. A consumer consumes only two goods X and Y whose prices are Rs. 4 and Rs.5 per unit respectively. What will be the MRS(XY) when consumer is in equilibrium?

Q. A consumer consumes only one good. The marginal utility from the good is 60 utils and its price is Rs. 7 per unit. Indicate whether the consumer is at equilibrium or not if marginal utility of money for consumer is 6 utils. What should he do to attain equilibrium

Q. A consumer consumes only two goods X and Y whose prices are Rs. 4 and Rs.5 per unit respectively. If the consumer chooses a combination of the two goods with the marginal utility of X equal to 5 and that of Y equal to 4, is the consumer in equilibrium? Give reasons. What will a rational consumer do in this situation? Use utility analysis.

Q. A consumer consumes two goods X & Y, both priced at Rs. 2 per unit. If the consumer chooses a combination of 2 goods with MRS equal to 2. Is the consumer in equilibrium why or why not? What will a rational consumer do in such situation?

Q. A consumer consumes two goods X & Y, with prices at Rs. 2 & Rs. 4 per unit respectively. If the consumer chooses a combination of 2 goods with MRS equal to 1. Is the consumer in equilibrium why or why not? What will a rational consumer do in such situation?

Q. A consumer consumes two goods X & Y, whose prices are Rs. 2 & Rs. 1 per unit respectively. If a consumer chooses a combination of two goods, with MU of x being 4 and y being 4, is the consumer in equilibrium. Give reasons.

Q. A consumer consumes two goods X & Y, her income is Rs. 24 and the prices of the goods X & Y are Rs. 2 & Rs. 4 respectively.

1. Can the consumer afford a bundle of 4 x & 5 y ?2. What will be MRSXY when the consumer is in equilibrium?


Q. Explain consumer equilibrium in case of single commodity with the help of utility schedule.

Q. a consumer consumes 2 goods X & Y. State and explain the condition of a consumer equilibrium with the help of utility analysis?

Q. Using indifference curve approach explain the condition of consumer equilibrium.

Q. Explain the various properties of indifference curve.

Q. Explain the various reasons which cause shift in budget line.

MICRO ECONOMICS (CH-3 DEMAND)


Q. Define demand for a good.

Q. Define market demand.

Q. Define demand function.

Q. Define demand schedule.

Q. Define individual demand schedule.

Q. Define market demand schedule.

Q. Define demand curve.

Q. Define individual demand curve.

Q. Define market demand curve.

Q. State the “Law of Demand.”

Q Define substitute goods.

Q. Define complementary goods.

Q. Define inferior goods.

Q. Define normal goods.

Q. Define change in quantity demanded.

Q. Define change in demand.

Q. Give one reason for leftward shift in the demand curve.

Q. Give one reason for rightward shift in demand curve.

Q. What causes an upward movement along the demand curve of a commodity?

Q. What causes a downward movement along the demand curve of a commodity?

Q. What does the rightward shift in the demand curve indicate?

Q. What does the leftward shift in the demand curve indicate?

Q. What is the relation between the price of a good and demand of its complementary good?


Q. What is the relation between the price of a good and demand of its substitute good?

Q. Define market demand. State the “Law of Demand” and assumptions behind it.

Q. Distinguish between normal and inferior goods.

Q. Distinguish between complementary goods and substitute goods.

Q. Show that there is an inverse relationship between the price of a commodity and the quantity demanded.

OR

Show that consumer of a commodity buys more of it when its price falls. Use utility analysis.

Q. Explain the effect of

(a) Change in the own price

(b) Change in the price of substitute goods

(c) Change in the price of complementary goods

on the demand of a good

Q. What happens to the demand of a good where consumers’ income changes?

Q. Goods X and Y are substitute. Explain the effect of fall in the price of Y in the demand of X.

Q. State 4 factors causing increase in market demand.

Q. Distinguish between expansion in demand and increase in demand.

Q. Distinguish between contraction in demand and decrease in demand.

Q. Distinguish between increase in demand and increase in quantity demanded.

Q. Distinguish between decrease in demand and decrease in quantity demanded.

Q. Distinguish between movement along the demand curve and shift in demand.


Q. Explain factors that affect the demand for a commodity.

Q. Explain the Law of Demand with the help of an imaginary schedule and diagram.

Q. Explain the causes of rightward shift in the demand curve of a commodity.

Q. Explain the causes of leftward shift in the demand curve of a commodity.

Q. Explain the effect of change in the price of a substitute good on the demand of a given good.

Q. Explain the effect of change in the price of a complementary good on the demand of a given good.

Q. How does the change in income affect the demand curve of a normal good?

Q. How does the change in income affect the demand curve of an inferior good?

Q. Explain the causes behind the law of demand

MICRO ECONOMICS (CH-4 ELASTICITY OF DEMAND)


Q. Define elasticity of demand.

Q. Define price elasticity of demand.

Q. Give the formula for measuring price elasticity of demand according to percentage method.

Q. When is the demand for goods said to be perfectly elastic?

Q. When is the demand for goods said to be perfectly inelastic?

Q. When is the demand for goods said to be highly elastic?

Q. When is the demand for goods said to be less elastic?

Q. When is the demand for goods said to be unitary elastic?

Q. Why is demand for water inelastic?

Q. A perfectly elastic demand curve is parallel to X axis. Why or why not?

Q. A perfectly inelastic demand curve is parallel to Y axis. Why or why not?

Q. Demand for a product is perfectly inelastic. What will be the change in demand if price falls from Rs. 10 per unit to Rs. 5 per unit?

Q. If the price elasticity of demand for a product is 1, what will be the nature of its demand curve?


Q Distinguish between perfectly elastic and perfectly inelastic demand for a commodity.

Q. How is the price elasticity of demand for a commodity affected by the number of its substitutes?

Q. How does the nature of a commodity influence its price elasticity of demand?

Q. A consumer buys 40 units of a good at a price of Rs. 3 per unit. When the price rises to Rs.4 per unit, he buys 30 units. Calculate price elasticity of demand?

Q. When the price of a good falls from Rs. 8 per unit to Rs. 7 per unit, its demand rises from 12 units to 16 units. Determine the elasticity of demand.

Q. When the price of a good falls from Rs. 10 per unit to Rs. 9 per unit, its demand rises from 9 units to 10 units, Determine the elasticity of demand..

Q. When the price of a good rises from Rs. 5 per unit to Rs. 6 per unit, its demand falls from 20 units to 10 units Determine the elasticity of demand.

Q. A consumer buys 80 units of a good at a price of Rs. 5 per unit. Suppose the price elasticity of demand is (-)2. At what price will he buy 64 units?

Q. When the price of a commodity falls by Rs. 2 per unit, the quantity demanded increases by 10 units. Its price elasticity of demand is (-) 1. Calculate the quantity demanded at the price before change which was Rs. 10 per unit.

Q. 8 units of a good are demanded at a price of Rs.7 per unit. Price elasticity of demand is (-) 1. How many units will be demanded if the price rises to Rs. 8 per unit?

Q.A consumer buys 10 units of a good at a price of Rs. 6 per unit. Price elasticity of demand is (-)1. At what price will he buy 12 units?

Q. When the price of a good changes from Rs. 11 per unit, the consumer’s demand falls from 11 units to 7 units. The price elasticity of demand is (-)1. What was the price before change?

Q. When price of a good is Rs. 7 per unit, a consumer buys 12 units. When price falls to Rs. 6 per unit, he spends Rs. 72 on the good. Calculate the price elasticity of demand by using the percentage method. Comment on the likely shape of demand curve based on this measure of elasticity.

Q. A consumer buys 10 units of a good at a price of Rs. 9 per unit. At price of Rs. 10 per unit, he buys 9 units. What is price elasticity of demand? Comment on the likely shape of demand curve on the basis of this measure of elasticity.

Q. A consumer buys 20 units of a good at a price of Rs. 5 per unit. He incurs an expenditure of Rs. 120 when he buys 24 units. Calculate price elasticity of demand using the percentage method. Comment upon the likely shape of demand curve based on this information.

Q. The price elasticity of demand of for a good is (-) 0.4. If the price increases by 5 percent, by what percentage will its demand fall? Calculate.

Q. The demand for a good rises by 20 percentage as a result of fall in its price. The price elasticity of demand is (-) 0.8. Calculate the percentage fall in price.

Q. A consumer buys 18 units of a good at a price of Rs. 9 per unit. The price elasticity of demand for the good is (-)1. How many units the consumer will buy at a price of Rs. 10 per unit? Calculate.

Q. Price elasticity of demand of a good is (-)1. When its price per unit falls by one rupee, its demand rises from 16 to 18 units? Calculate the price before change.

Q. Consumer buys 30 units of a good at a price of Rs. 10 per unit. Price elasticity of demand for the good is (-)1. How many units the consumer will buy at a price of Rs. 9 per unit? Calculate.

Q. A consumer spends Rs 1000 on a good priced at Rs 8 per unit. When the price falls by 25% , the consumer continues to spend Rs 60 on the good . Calculate price elasticity of demand by percentage method.

Q. A consumer spends Rs 100 on a good priced at Rs 4 per unit. When the price falls by 50% , the consumer continues to spend Rs 100 on the good . Calculate price elasticity of demand by percentage method.

Q. A consumer spends Rs 1000 on a good priced at Rs 8 per unit. When the price rises by 25% , the consumer continues to spend Rs 1000 on the good . Calculate price elasticity of demand by percentage method.

Q. When the price of a commodity X falls by 10%, its demand rises from 150 units to 180 units .Calculate the price elasticity of demand .How much should be the percentage fall in itsprice so that demand rises from 150 units to 210 units.


Q. Explain the percentage method of determining elasticity of demand with the help of an example.

Q. Explain briefly the following kinds of elasticities of demand (i) Highly Elastic Demand(ii) Less Elastic Demand(iii) unitary Elastic Demand(iv) Perfectly Elastic Demand(i) Perfectly inelastic Demand

Q Explain the various factors affecting the price elasticity of demand.

MICRO ECONOMICS (CH-5 PRODUCTION)

Each question carries I markQ. Define production function.

Q. Define Short Run Production function.

Q. Define Long Run Production function.

Q. Define Total Product , Average Product and Marginal Product.

Q. Define Returns to a factor.

Each question carries 3-4markQ. What is the difference between variable factors and fixed factors?

Q. Explain the relationship between TP and MP.

Q Explain the relationship between AP and MP.

Each question carries 6 Marks

Q State the Law of Variable Proportions and prepare the schedule marking the phases of Law of Variable Proportions.

Q. Explain the various phases of Law of Variable Proportions.

Q. Find out the missing values from the following tables:

a.

Variable Factor

0 1 2 3 4 5

TP ? ? 10 ? 24 ?AP ? ? ? 6 ? 5MP ? 4 ? ? ? ?

b.

Units of Labour

AP MP

1 16 ?2 20 ?3 ? 204 18 ?5 ? 86 14 ?

c.

Units of Labour

AP MP

1 8 ?2 10 ?3 ? 104 9 ?5 ? 46 7 ?

d.

Variable Factor

0 1 2 3 4 5 6 7

TP ? ? ? ? 25 ? ? ?AP ? 5 ? ? ? ? ? ?MP ? ? 8 4 ? 5 0 -4

MICRO ECONOMICS (CH-6 COST)

Each question carries I markQ. Define cost.

Q. What do you mean by Total Cost?

Each question carries 3-4mark

Q. Distinguish between Explicit Cost and Implicit Cost.

Q. Explain the behaviour of Total Fixed Cost curve , Total Variable Cost curve and Total Cost curve.

Q. Discuss the relationship between TC, TVC and TFC.

Q Explain AFC, AVC , AC and MC.

Q Discuss the relationship between AC and MC.

Q. Distinguish between Variable Cost or Total Variable Cost and Fixed Cost or Total Fixed Cost.

Each question carries 6 Marks

Q. Find out the missing values from the following tables:

a.

Output 0 1 2 3 4 5 6TC 50 ? 100 ? ? ? ?AC ? ? ? ? ? ? ?MC ? 20 ? 51 56 60 70

b.

Output 1 2 3 4 5TFC 10 ? ? ? ?TVC 50 ? ? ? ?TC ? ? ? 270 ?MC ? 30 ? ? ?AFC ? ? ? ? ?AVC ? ? 40 ? ?AC ? ? ? ? 70

c.

Output AFC MC TC1 ? ? 722 ? 10 ?3 20 8 ?4 ? ? 995 12 10 ?

d.

Output AFC AC AVC MC1 ? 140 ? 502 ? ? 45 ?3 ? ? ? 454 22.5 ? 48 ?5 18 ? 52 ?

e.

OUTPUT AC MC1 12 ?2 10 ?3 ? 104 10.5 ?

5 11 ?6 ? 17

f.

OUTPUT TC AVC MC AFC0 30 - - -1 ? ? 20 ?2 68 ? ? ?3 84 18 ? ?4 ? ? 18 ?5 125 19 ? 6

G.

OUTPUT AFC MC AVC AC1 60 20 ? ?2 ? ? 19 ?3 20 ? 18 ?4 ? 18 ? ?5 12 ? ? 31

MICRO ECONOMICS (CH-7 REVENUE)


Q Define Total Revenue.Q Define Marginal Revenue.Q Define Average Revenue.Q Can MR be zero or negative?Q What happens to TR when MR is positive?Q If average revenue curve is a horizontal straight line, then marginal revenue curve will be?

Each question carries 3 - 4 marks

Q Explain the relationship between AR and MR when price remains constant with the help of a schedule and curve.

Q Explain the relationship between AR and MR when price falls with rise in output with the help of a schedule and curve.

Q Explain the relationship between TR and MR when price remains constant with the help of a schedule and curve.

Q Explain the relationship between TR and MR when price falls with rise in output with the help of a schedule and curve.

Q Find out AR and MR:

Quantity Sold

1 2 3 4 5 6

TR 20 36 48 56 60 60

Q Complete the following table for TR and MR

Units of Output 1 2 3 4

AR 10 8 6 2

Q From the table given below, calculate TR, AR and MR.

Units sold 1 2 3Price 6 5 4

Q Complete the following table:

Output Price MR TR1 ? 10 ?2 9 ? ?3 ? ? 244 ? 4 ?


Output AR MR TR1 ? 15 152 ? ? 263 11 ? ?4 ? 3 36


Output TR MR AR1 ? ? 82 ? 4 ?3 12 ? ?4 8 ? 2



Units sold TR MR AR1 10 10 ?2 ? ? 93 24 ? ?4 ? 4 75 30 ? 66 30 0 ?7 28 ? 48 ? -4 3

MICRO ECONOMICS (CH-8 PRODUCER’S EQUILIBRIUM)


Q Define Profit.

Q Define Producer’s Equilibrium.


Q A table showing TC and TR of a firm is given. Calculate MC and MR and find out the equilibrium level of output.

Output

1 2 3 4 5 6 7 8 9 10

TC 45 80 95 105 135 175 225 285 360 440TR 40 80 120 160 200 240 280 320 360 400

Q From the following total cost and total revenue schedule of a firm , find out the level of output, using marginal cost and marginal revenue approach, at which the firm would be in equilibrium. Give reasons for your answer.

Output TR TC1 10 82 18 153 24 214 28 255 30 33


Q Explain Marginal Revenue – Marginal Cost approach when Price remains constant.

Q Explain Marginal Revenue – Marginal Cost approach when Price falls with rise in output.

Q What is producer’s equilibrium? Explain the conditions of producer’s equilibrium through the ‘Marginal Revenue – Marginal Cost approach’. Use diagram.

MICRO ECONOMICS (CH-9 SUPPLY)


Q What is Individual supply function?

Q What is Market supply function?

Q What is Individual Supply Schedule?

Q What is Market Supply Schedule?

Q What is Individual Supply Curve?

Q What is Market Supply Curve?

Q What is Law of Supply ?


Q Explain the determinants of individual supply.

Q Explain the determinants of market supply.

Q What are the reasons for Law of Supply?

Q What are exceptions to Law of Supply?

Q Differentiate between Movement along the supply curve and Shift in supply curve.

Q Differentiate between Expansion in supply and Increase in supply.

Q Differentiate between Contraction in supply and Decrease in supply.

Q Explain the effect of change in price of other goods on supply curve.

Q Explain the effect of change in price of factors of production on supply curve.

Q Explain the effect of change in the state of technology on supply curve.

Q Explain the effect of change in Taxation policy on supply curve.

Q Price of a good rises from ₹ 10 to 12 per units, its supply rises by 40%. Calculate price elasticity of ₹supply.

Q If price of a commodity falls from 60 to 58 per unit, its supply falls from 300 to 200 units. Find out its ₹ ₹elasticity of supply.

Q The price elasticity of supply is 2.5. At a price of 5 per unit, its quantity supplied is 300 units. Calculate ₹quantity supplied at a price of 4 per unit.₹Q When the price of a commodity falls from 10 to 9 per unit, its quantity falls by 30%. Calculate price ₹ ₹elasticity of supply.

Q A producer supplies 200 units of a good at 10 per unit. Price elasticity of supply is 2. How many units ₹will the producer supply at 11?₹


Q Discuss the different kinds of Elasticities of supply.

MICRO ECONOMICS (CH-10 MAIN MARKET FORMS)


Q. What is imperfect oligopoly? Q. What is perfect oligopoly? Q. State the main features of a perfectly competitive market. Q. What is meant by collusive oligopoly? Q State whether the following statement is true or false. ‘A monopolist can sell any quantity at the price, he likes. Give reason. Q Which is a price taker firm? Q. When is a firm called price taker?Q When is a firm called price maker? Q Which market form has the least number of producers? ORUnder which form of market, is a firm price maker? ORIn which market there is only one firm? Q Define oligopoly. Q Name the characteristic which makes monopolistic competition different from perfect competition. Q State one feature of oligopoly. Q. In which market form a firm cannot influence the price of the product? OR

In which market, firm is a price taker? Q. Define monopoly.Q What can you say about the number of buyers and sellers under monopolistic Competition? Q Give meaning of monopolistic competition. Q What is the effect on price when a perfectly competitive firm tries to sell more? Q What is the effect on price when a monopoly firm tries to sell more?


Q Why is the number of firms small in oligopoly? Explain. ORExplain why there are only a few firms in an oligopoly market?

Q Why are the firms said to be interdependent in an oligopoly market? Explain. ORExplain why firms are mutually interdependent in an oligopoly market? Q Under what market condition does Average Revenue always equal Marginal Revenue? Explain. Q Explain the implications of large number of buyers and sellers in a perfectly competitive market.

ORExplain ‘large number of buyers and sellers’ features of perfectly competitive market.

Q Explain ‘freedom of entry and exit to firms in industry’ feature of monopolistic competition. Q Why can a firm not earn abnormal profits under perfect competition in the long-run? Explain. ORExplain the implications of freedom of entry and exit to the firms under perfect competition.

Q Why is the demand curve of a firm under monopolistic competition more elastic than under monopoly? Explain. Q Explain the implications of perfect knowledge about market under perfect competition. Q Explain the implications of the feature homogeneous products in perfectly competitive market. Q Why is a firm under perfect competition a price taker and under monopolist competition a price maker? Explain briefly. Q Giving reasons, distinguish between the behaviour of demand curves of firms under perfect competition and monopolistic competition.

Q Explain the features of perfect competition. ORState three features of perfect competition. Q State three features of monopoly. Q State three features of monopolistic competition. Q Explain differentiated products characteristic of monopolistic competition. Q Explain two points of distinction between monopoly and monopolistic competition.


Q Distinguish between collusive and non-collusive oligopoly. Explain how the oligopoly firms are interdependent in taking price and output decisions? Q Distinguish between collusive and non-collusive oligopoly. Explain the following features of oligopoly.Q Explain the implications of the following features of a perfectly competitive market.(i) Perfect knowledge about the market of the good.(ii) Perfect knowledge about the inputs used in the production. Q Explain the implications of the following features of oligopoly market

(i) Few firms (ii) Barriers to the entry of firms. Q Explain the implications of the following features of perfectly competitive market.(i) Large number of buyers (ii)Large number of sellers .Q Explain the implications of the following features of monopolistic competition(i) Differentiated products (ii) Freedom of entry and exit to firms Q Explain the implications of the following features of perfect competition.(i) Homogeneous products(ii) Freedom of entry and exit to firms Q Explain the implications of the following(i) Differentiated products under monopolistic competition.(ii) Large number of sellers under perfect competition. Q Distinguish between perfect competition and monopolistic competition

MICRO ECONOMICS (CH-11 PRICE DETERMINATION WITH SIMPLE APPLICATION)


Q Give the meaning of equilibrium. Q Define equilibrium price. Q Define Excess Demand.Q Define Excess supplyQ Define equilibrium quantity.Q Define market equilibriumQ Define price ceiling Q Define pice floor.

Each question carries 3-4markQ Market for a good is in an equilibrium. There is an increase in demand for this good. Explain the chain of effects. orAt a given equilibrium in the market, explain the chain of effects, of increase in demand for a good. Q Explain the changes that will take place when in a market the demand for a good is greater than supply at the prevailing price. Q Explain why an equilibrium price of a commodity is determined at that level of output at which its demand equals its supply. .Q How is an equilibrium price of a commodity determined ?Explain with the help of demand and supply schedule orExplain how market price of a good is determined .Use diagramQ How is price determined under perfect competition? Explain briefly Q Suppose the price of a good is higher than equilibrium price. Explain the changes that will establish equilibrium price. Q The demand and supply of a commodity both decreases in the same proportion. Explain its effects on an equilibrium price and quantity with the help of a diagram.Q Equilibrium price of an essential medicine is too high. Explain what possible steps can be taken to bring down an equilibrium price, but only through the market forces. Also explain the series of changes that will occur in the market.Q Explain the sequence of changes that will take place when there is excess demand of the commodity.

or

At a given price, there is an excess demand for a good. Explain how the equilibrium price will be reached.Q Explain the effects of increase in income of buyers of normal commodity on its equilibrium price. Q How does an equilibrium price of a normal commodity change when income of its buyers falls? Explain the chain of effects. orA product market is in an equilibrium. Suppose the demand for the product decreases. What changes will take place in the market? Use diagram.

Q How is an equilibrium price of a commodity affected by a leftward shift of the demand curve? Explain it with the help of a diagram. Q Explain the changes that take place when at a given price of a commodity, there is excess supply of it. Use diagram. Each question carries 6 MarksQ What is excess demand for a good in a market? Explain its chain of effects on the market for that good use diagram.

Q Market for a product is in equilibrium. Demand for the product decreases. Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

Q Market for a good is in an equilibrium. Suppose supply decreases. Giving reasons,explain its effects on equilibrium price and quantity. Use diagram.

Q Market of a commodity is in equilibrium. Demand for the commodity ‘increases.’ Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.

Q Define price floor .What is the common purpose of fixation of floor price by the government ?Explain likely consequences of this nature of intervention by the government.

Q Define price cieling .What is the common purpose of price ceiling by the government ?Explain likely consequences of this nature of intervention by the government.

Q X and y are complementary goods. The price of Y falls . Explain the chain effects of this change in the market of X

Q X and y are substitute goods. The price of Y falls . Explain the chain effects of this change in the market of X

RAMAKRISHNA SENIOR SECONDARY SCHOOL – Arise ... · Web viewQ. Explain consumer equilibrium in case of single commodity with the help of utility schedule. Q. a consumer consumes

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