CBSE Class 11 Term 1 Economics MCQ Sample Model Paper 2021 2022

CBSE Class 11 Term 1 Economics MCQ Sample Model Paper 2021 2022

CBSE Class 11 Term 1 Economics MCQ Sample Model Paper 2021 2022

CBSE Class XI Term 1 MCQ Sample Model Paper 2021-22 Eco

CLASS: XI
SUBJECT: ECONOMICS
TIME : 1½ HRS.+ READING TM: 20 MIN M.M. 40

CBSE Class 11 Term 1 Economics MCQ Sample Model Paper 2021 2022
CBSE Class 11 Term 1 Economics MCQ Sample Model Paper 2021 2022


GENERAL INSTRUCTIONS:
1. There are a total 60 questions in this paper out of which 50 questions are to be attempted.
2. This paper is divided into three Sections:
a. Section A – Contains 24 questions. Attempt any 20 questions.
b. Section B – Contains 24 questions. Attempt any 20 questions.
c. Section C – Contains 12 questions. Attempt any 10 questions.
3. All questions carry equal marks.
4. There is no negative marking.
PART A
(20 questions out of 24 questions are to be attempted)

1.In singular sense, Statistics means:
A. statistical science
B. statistical law
C. Both A & B
D. None of these

2. From the set of statements given in Column I and Column II, choose the correct pair of statements:
Column I
Column II
(A) Human wants
(i) Scarce
(B) Distribution
(ii) Unlimited
(c) Resources
(iii) Economic activity
(d) Charity
(iv) Non-economic activity

A. (A)-(i)
B. (B)-(ii)
C. (C)-(iii)
D. (D)-(iv)

3.Identify the correct sequence of alternatives given in Column II by matching them with respective items in column I:
Column I
Column II
(A) Statistics
(i) Array of data and tally bars
(B) Production
(ii) techniques used for the collection, organization and presentation of data
(c) Organisation of data
(iii) Quantification of facts and findings
(d) Statistical tools
(iv) Process of converting raw material into finished goods

A. (A)-(i), (B)-(ii), (C)-(iii), (D)-(iv)
B. (A)-(iii), (B)-(iv), (C)-(i), (D)-(ii)
C. (A)-(ii), (B)-(iv), (C)-(iii), (D)-(i)
D. (A)-(iii), (B)-(iv), (C)-(ii), (D)-(i)

4.With regards to distrust of Statistics, which of the following statements is not correct ?
A. Statistics is a rainbow of lies
B. Statistics are tissues of falsehood
C. Statistics express the facts in numbers
D. There are three kinds of lies- lies, damned lies and statistics

5. Exit poll that shows the chances of winning the number of seats by different parties in 2019 Lok Sabha election shown on T.V. by some news channel, for the viewer is:
A. Primary data
B. Secondary data
C. Internal data
D. Continuous data

6. Which is the first class of the distribution of the following mid-values of a frequency distribution: 10, 20, 30, 40, 50
A. 0-20
B. 9-11
C. 5-15
D. 8-12

7. Identify the correct sequence of alternatives given in Column II by matching them with respective items in column I:
Column I
Column II
(A) Stub
(i) Column Heading
(B) Caption
(ii) supplements the information about the table provided by the title
(c) Table Number
(iii) Row heading
(d) Head Note
(iv) Facilitates the location


A. (A)-(i), (B)-(iii), (C)-(iv), (D)-(ii)
B. (A)-(ii), (B)-(iii), (C)-(iv), (D)-(i)
C. (A)-(iii), (B)-(iv), (C)-(ii), (D)-(i)
D. (A)-(iii), (B)-(i), (C)-(iv), (D)-(ii)

8.Which diagram will be most suitable to highlight the relative importance of the various component parts to the whole data ?
A. Percentage bar diagram
B. Broken bar diagram
C. Multiple bar diagram
D. Deviation bar diagram

9. A curve obtained by joining the mid-points of adjacent rectangles of the histogram by straight lines is called:
A. frequency curve
B. frequency polygon
C. ogive
D. None of the above

10. Schedules are filled by the:
A. Investigator
B. Respondent
C. Enumerator
D. None of these

11.Census method is suitable for that investigation in which:
A. the size of population is large
B. high degree of accuracy is not required
C. there are widely diverse items
D. intensive examination of diverse items is not required

12.Which of the following equation is correct ?
{s = size of the class, r = range, n = number of classes}
A. s = r + n
B. s = r – n
C. s = r × n
D. s = r / n

13. In which quadrant, the value of X will be positive but that of Y will be negative ?
A. 1st
B. 2nd
C. 3rd
D. 4th

14. What will be the Median value of the following series ?
12, 17, 16, 13, 19, 23, 22
A. 12
B. 13
C. 16
D. 17
15.In an asymmetrical distribution mean is 20 and median is 25. Mode is:
A. 5
B. 30
C. 35
D. 45
16.Which average would be most suitable to know the average size of readymade garments?
A. Mode
B. Median
C. Mean
D. All of the above
17.The average marks for statistics in a class of 30 students were 52. Among these, six students had an average of 31 marks. What were the average marks of the other students?
A. 57.25 marks
B. 56.50 marks
C. 21 marks
D. 51.75 marks
18.The sum of square of deviation about mean is:
A. maximum
B. minimum
C. zero
D. More than 1
19.Weighted averages are considered when:
A. the data are not classified
B. the data are put in the form of grouped frequency distribution
C. all the observations are not of equal importance
D. both A & C

20.Read the following statements- Assertion (A) & Reason (R). Choose the correct alternative given below:
Assertion (A): Arithmetic Mean is capable of further algebraic treatment.
Reason (R): Arithmetic mean is a mathematical average.
A. Both Assertion (A) & Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B. Both Assertion (A) & Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C. Assertion (A) is true & Reason (R) is false.
D. Assertion (A) is false & Reason (R) is true.

21.Which of the following statement is false ?
A. Mode ignores extreme marginal frequencies
B. Mode is very simple and popular measure of central tendency
C. Mode can not be calculated graphically
D. The calculation of mode does not require knowledge of all the items

22.Which of the following is positional average ?
A. Arithmetic Mean
B. Median
C. Geometric Mean
D. Harmonic Mean
23.Find values of f1 and f2, if median value is 28 and N =44
Class
0-10
10-20
20-30
30-40
40-50
50-60
Frequency
3
f1
15
9
f2
4

A. 7 & 6 respectively
B. 5 & 8 respectively
C. 4 & 9 respectively
D. 3 & 10 respectively


24.A student decides to buy a ticket for a concert instead of buying a new shirt. What is the opportunity cost of buying the ticket?
A. the concert
B. the price of the ticket to the concert
C. the shirt
D. the time spent in purchasing the ticket


PART B
(20 questions out of 24 questions are to be attempted)
25.Read the following statements- Assertion (A) & Reason (R). Choose the correct alternative given below:
Assertion (A): Positive economics avoids economic value judgements.
Reason (R): Positive statements can be verified as true or false by comparing with actual data.
A. Both Assertion (A) & Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B. Both Assertion (A) & Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C. Assertion (A) is true & Reason (R) is false.
D. Assertion (A) is false & Reason (R) is true.

26.The word Economics has its origin in two ____________ words: Oikos and Nemein.
A. French
B. German
C. Greek
D. Chinese


27.Identify the central problem which deals with deciding the quantity of goods to be produced:
A. What to produce
B. How much to produce
C. How to produce
D. For whom to produce


28.In order to encourage tourism in Goa, Indian Airlines reduces the air fare to Goa. How will it affect market demand curve for air travel to Goa ?
A. Forward shift of demand curve
B. Backward shift of demand curve
C. Upward movement along with same demand curve
D. Downward movement along with same demand curve

29.In a typical demand schedule, quantity demanded:
A. varies directly with price
B. varies proportionately with price
C. varies inversely with price
D. is independent of price

30.Any statement about demand for a good is considered complete only when the following are mentioned in it:
A. Price and quantity of the good
B. Quantity of the good and period of time
C. Price of the good and period of time
D. Price & quantity of the good and period of time

31.Read the following statements- Assertion (A) & Reason (R). Choose the correct alternative given below:
Assertion (A): Cross demand is positive in case of substitute goods
Reason (R): An increase in price of substitute good leads to a decrease in demand for given commodity
A. Both Assertion (A) & Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B. Both Assertion (A) & Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C. Assertion (A) is true & Reason (R) is false.
D. Assertion (A) is false & Reason (R) is true.


Suppose a consumer consumes only two goods X and Y. His money income is Rs. 200. Prices of Goods X and Y are Rs. 20 and Rs. 10 respectively. On the basis of this information, answer Question no. 32 to 34.
32.Which of the following combinations of goods X and Y will lie on the budget line?
A. X= 5 Units, Y= 5 Units
B. X= 5 Units, Y= 10 Units
C. X= 10 Units, Y= 10 Units
D. X= 10 Units, Y= 20 Units

33.Which of the following combinations of goods X and Y is a part of the budget set but does not lie on the budget line?
A. X= 10 Units, Y= 0 Units
B. X= 5 Units, Y= 10 Units
C. X= 0 Units, Y= 20 Units
D. X= 10 Units, Y= 20 Units

34.Which of the following combinations of goods X and Y is feasible for the consumer ?
A. X= 10 Units, Y= 5 Units
B. X= 10 Units, Y= 10 Units
C. X= 0 Units, Y= 20 Units
D. X= 5 Units, Y= 20 Units

35.The demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively:
A. Proportionately large fall in quantity demanded
B. No change in quantity demanded
C. Proportionately small fall in quantity demanded
D. infinite change in quantity demanded

36.The Indian Government imposed heavy taxes on commodity to reduce its consumption by the public. Such heavy taxes will decrease the demand the commodity only when:
A. Ed = 0
B. Ed = 1
C. Ed > 1
D. Ed < 1

37.A firm is currently selling 10,000 units of its product per month. The firm plans to reduce the retail price from Rs. 1 to Rs. 0.90. from the previous experience, the firm knows that the price elasticity of demand for the product is (-)1.5. Assuming no other changes, the firm can now expect the sales of:
A. 11,500 units
B. 15,000 units
C. 11,000 units
D. 10,500 units

38.Units
TU
MU
1
10
10
2
18
8
3
24
6
5
30
?

In the above table, find the missing marginal utility:
A. 6
B. 4
C. 12
D. 3

39.The farther the indifference curve is from the origin, the:
A. Lower is the satisfaction level
B. Higher is the satisfaction level
C. satisfaction level will remain same
D. Nothing can be said about satisfaction

40.A consumer consumes only two goods. If price of one of the good falls, the indifference curve:
A. rotates outwards
B. rotates inwards
C. will shift
D. will not shift

41.__________ statistics refers to all such methods by which conclusions are drawn relating to the universe on the basis of a given sample.
A. Descriptive
B. inferential
C. small
D. big

42.Read the following statements carefully and choose the correct alternative from the following:
Statement 1 – Homogeneity of data is an essential requirement for statistics.
Statement 2 – All numerical data can be called statistics but all statistics can not be called numerical data.
Alternatives:
A. Both the statements are true.
B. Both the statements are false.
C. Statement 1 is true and Statement 2 is false
D. Statement 2 is true and Statement 1 is false

43.Which of the following statement is true ?
A. There is only one source of secondary data.
B. ‘Do you own a car ?’ This question is an example of multiple choice question.
C. Data collected by investigator is called the secondary data
D. There is a certain bias involved in the non-random selection of samples.


The following data relates to the marks of a group of students in a test of 50 marks:
Marks
No. of students
Below 10
15
Below 20
38
Below 30
65
Below 40
84
Below 50
100

On the basis of this table answer Q. No. 44 to 47
44.How many students scored marks more than 30 ?
A. 65
B. 35
C. 50
D. 43

45.How many students scored marks between 20 to 40 ?
A. 46
B. 36
C. 56
D. 84

46.If a student who scores 80% or above marks is considered in merit list, then how many students will be included in the merit list ?
A. 35
B. 16
C. 84
D. 15

47.If the minimum passing marks are 40%, then how many students passed in this test ?
A. 65
B. 62
C. 38
D. 27

48.Which of the following can be calculated using bar diagram ?
A. Mean
B. Median
C. Mode
D. None of the above


PART C
(10 questions out of 12 questions are to be attempted)
49.A grouping table has:
A. 2 columns
B. 4 columns
C. 6 columns
D. 8 columns

50.When the distribution is symmetrical, mean, median and mode:
A. coincide
B. do not coincide
C. Either A or B
D. None of these

51.Which of the following statement is true ?
A. The sum of deviation of the items from median is zero.
B. Mean is a positional average
C. Median divides the series into two equal parts
D. Median is unduly affected by extreme observations.

52.In which case, weighted mean will be more than simple mean ?
A. When equal weights are assigned to all the items in the series
B. When smaller weights are assigned to the larger items and larger weights are assigned to smaller items
C. When larger weights are assigned to the larger items and smaller weights are assigned to smaller items
D. None of these

53.Read the following statements- Assertion (A) & Reason (R). Choose the correct alternative given below:
Assertion (A): Tools of microeconomics are demand and supply.
Reason (R): Microeconomics studies the behavior of individual units of an economy.
A. Both Assertion (A) & Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B. Both Assertion (A) & Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C. Assertion (A) is true & Reason (R) is false.
D. Assertion (A) is false & Reason (R) is true.

54.Compute the missing value:
Units of Good X
Units of Good Y
Marginal Opportunity Cost
10
180

20
140
?

A. 40
B. 4
C. 20
D. 2

55.The diagram shows the demand for chocolate:

What would cause the movement from Point X to Point Y ?
A. Fall in the price of chocolate
B. Favorable change in taste
C. Successful advertising campaign
D. Increase in income

56.A fall in own price of the commodity usually leads to:
A. increase in real income of the consumer
B. decrease in real income of the consumer
C. increase in purchasing power of the consumer
D. Both A & C

57.If MUxPx<MUyPy then, in order to be in equilibrium the consumer should:
A. Buy more of X and less of Y
B. Buy less of X and more of Y
C. Buy more of both X and Y
D. Buy less of both X and Y

58.When MU is positive and diminishing, then:
A. TU also diminishes
B. TU increases at increasing rate
C. TU increases at diminishing rate
D. TU remains constant

59.Which of the following is not a factor affecting elasticity of demand ?
A. Price
B. Price level
C. Income level
D. Multiple uses

60.When slope of demand curve = 0, then elasticity of demand is:
A. 0
B. 1
C. ∞
D. None of these


MARKING SCHEME

ANSWERS
Q. No.
1
2
3
4
5
6
7
8
9
10

OPTION


C
D
B
C
B
C
D
A
B
C
Q. No.
11
12
13
14
15
16
17
18
19
20

OPTION


C
D
D
D
C
A
A
B
C
A
Q. No.
21
22
23
24
25
26
27
28
29
30

OPTION


C
B
A
C
B
C
A
D
C
D
Q. No.
31
32
33
34
35
36
37
38
39
40

OPTION


C
B
D
C
A
C
A
D
B
D
Q. No.
41
42
43
44
45
46
47
48
49
50

OPTION


B
C
D
B
A
B
B
D
C
A
Q. No.
51
52
53
54
55
56
57
58
59
60

OPTION


C
C
B
B
A
D
B
C
A
C



Grade-XI Economics

1. ________ of the data refers to the arrangement of figures in such a form that comparison of the mass of similar data may be facilitated and further analysis may be possible
a) Organization b) Collection
c) Interpretation d) Analysis

2. Frequency distribution can be:
(a) Discrete (b) Continuous
(c) Both (a) and (b) (d) None of these

3. It is the process of arranging things in groups or classes according to their resemblances
a) Interpretation b) Collection
c) Classification d) Analysis

4. Class-interval is measured as:
(a) Half of the sum of lower and upper limit
(b) The sum of the lower and upper limit
(c) Half of difference between lower and upper limit
(d) The difference between lower and upper limit

5. NSSO provides periodic estimates of :
a) Literacy and utilization of educational services.
b) Employment and Unemployment
c) Manufacturing and service sector enterprises.
d) All of these .

6. Chronological classification is
a) Classification on the basis of quality
b) Classification on the basis of time
c) Classification on the basis location
d) Classification on the basis quantity

7. A grouped frequency distribution with uncertain first or last class is known as:
(a) Exclusive class distribution (b) Inclusive class distribution
(c) Open ended distribution (d) Discrete frequency distribution

8. The most complete and continuous demographic record of population is provided by :
a) National Sample survey office. (NSSO)
b) Central Statistical Organisation. (CSO)
c) Registrar General of India. (RGI)
d) Census of India

9. Which type of classification is made on the basis of time?
Place classification c) Chronological classification
Conditional classification d) None of these

10. Which of the following factors are considered when comparison between sampling and census method is made?
a) Area of Survey c) Accuracy of data
b) cost of collection d) All of these

11. Sampling errors can be reduced by
Non sampling errors c) Increasing the population
Decreasing the sample size d) Increasing the sample size

12. In an examination, 25 students secured the following marks:
23
28
30
32
35
35
36
40
41
43
44
45
45
48
49
52
53
54
56
56
58
61
62
65
68


If we Arrange the data with cumulative frequencies, which option is right:

Method-I
METHOD-1
Marks
No. of Students
Less than 29
Less than 39
Less than 49
Less than 59
Less than 69
0 + 2 = 2
2 + 5 = 7
7 + 8 = 15
15 + 6 = 21
21 + 4 = 25



Method-II

METHOD-2
Marks
No. of students
More than 20
More than 30
More than 40
More than 50
More than 60
25
25 − 2 = 23
23 − 5 = 18
18 − 8 = 10
10 − 6 = 4










Both A) & B)
None of these

13. For the mid values given: 25, 34, 43, 53, 61, 70, the first class of the distribution is:
a) 25-34 b) 24.5-34.5
c) 20-30 d) 20.5-29.5

14. More than one attribute are present simultaneously in case of
a) Qualitative classification b) Quantitative classification
c) Manifold classification d) Chronological classification

15. Which method of primary data collection is more suitable in case of vast areas?
Direct personal investigation
Information through local agents
Indirect personal investigation
None
16. A series in which every class interval excludes items corresponding to its upper limit is called:
a) Exclusive series b) Inclusive series
c) both (a) & (b) d) None of these

17. The difference between upper limit and lower limit of a class is known as:
a) Range b) Magnitude of class interval
c) Frequency d) Cumulative frequency

18. Nationality of a student is:
a) A discrete variable b) An attribute
c) A continuous variable d) Either (b) or (C)

19. Which of the following is the objective of classification?
a) Simplification b) Briefness
c) Comparability d) All of these

20. Series in which frequencies are continuously added corresponding to each class interval in the series
a) Frequency c) Deviation
b) Cumulative frequency d) Mid value


Micro Economics

1. When the Percentage change in Quantity demanded is less than percentage change in price then price elasticity of demand is
a) Less than unity b) More than unity
c) Equal to unity d) None

2. Any individual who purchases goods and services from the market for his/her end-use is called a………………
a. Customer b. Purchaser
c. Consumer d. All these

3. With the increase in income of the consumer,the demand curve of the inferior good :
1.Shift to right 2.Shift to left
3.Becomes horizontal 4.Becomes Vertical

4. “———– is the action and decisions process or people who purchase goods and services for personal consumption.”
a. Consumer behavior b. Consumer interest
c. Consumer attitude d. Consumer interpretation.

5. The consumer is in equilibrium at a point where the budget line—

(a) Is above an indifference curve.
(b) Is below an indifference curve.
(c) Is tangent to an indifference curve.
(d) Cuts an indifference curve

6. In case of Giffen goods, demand curve is :
a) Negatively Sloping b) Positively Sloping
c) Zero sloping d) None of above

7. Necessity goods tend to have an
a) elastic demand b) inelastic demand
c) unitary demand d) none of these

8. The consumer is in equilibrium at a point where the budget line—

(a) Is above an indifference curve.
(b) Is below an indifference curve.
(c) Is tangent to an indifference curve.
(d) Cuts an indifference curve.

9. Movement along the demand curve occurs due to change in :
1.Price of the substituted goods
2.Price of the complementary goods
3.Own price of the product
4.Factors other than price

10. Which of the following is the example of complementary goods:
a) Bread & Butter b) Pen & Pencil
c) Computer & laptop d) T-shirt & Shirt

11. A consumer is in equilibrium when an indifference curve is …..?
A) Equal to price line
B) tangent to price line
C) Tangent to price line in convex form
d) tangent to price line in concave form

12. Luxury goods tend to have an
a) elastic demand b) inelastic demand
c) unitary demand d) none of these

13. All such demand curves where quantity demanded is totally unresponsive to changes in price are called
(A) perfectly elastic demand curve
(B) perfectly inelastic demand curve
(C) Unitary elastic demand curve
(D) none of the above

14. If the quantity demanded of a commodity remains unchanged as its price changes, the coefficient of price elasticity of demand is-
a) Zero b) Infinite
c) >1 d) <1

15. Demand curve is said to be ……………. And has the property that when price increases or decreases, the total revenue remains constant.
(a) perfectly elastic demand (c) perfectly inelastic demand
(b) Unitary elastic demand d) none of the above

16. Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is:
a) 10% b) 30%
c) 3 d) 1

17. If X and Y are two commodities, indifference curve shows—

(a) X and Y are equally preferred
(b) Y is preferred to X
(c) X is preferred to Y
(d) None of these.

18. Shift in demand curve happens when:
1.There is change in Price of the product
2.There is change in factors other than price
3.There is change in income
4.None of the above

19. Law of demand applies in case of
a) Inferior goods b) Normal goods
c) Giffen goods d) None of the above

20. Normally the shape of demand curve is :
a) Horizontal b)Upward sloping
c) Downward sloping d) Vertical



















Term 2 Sample Paper

https://techcbse.com/cbse-economics-model-question-paper

Eco paper 2022

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