RAJA RAM MOHAN ROY ACADEMY
SUBJECT – ECONOMICS
CLASS – XI, WORKSHEET NO.1
Answer the following questions
1. State Lionel Robbins definition of economics.
2. Mention any two features of the wealth centred definition of economics.
3. What do you mean by the following terms ?
a. Utility b. National Income c. Aggregate demand & supply d. Demand pull
inflation e. Cost push inflation
4. Define the term economic growth and development.
5. What is production possibility curve ?
6. What do you mean by – SAARC, ASEAN, EU, G-20, G-8
7. Explain these terms :- Price ceiling , Rationing , Price Floor, Fiscal policy
8. Briefly point out two features of Indian agriculture on the eve of her
independence.
9. Mention any two parameters of economic development.
10. State any two economic causes of poverty in a country like India.
11. Mention the main functions of NABARD
12. Mention any two sources of human capital formation
13. Distinguish between open unemployment and disguised unemployment
14. What do mean by Global Warming ?
15. Mention three main limitations of statistics
16. What do you mean by Secondary data ?
17. What do you mean by the Census Method ?
18. What do you mean by random sampling ?
19. Calculate mean, median and mode on the basis of the following statistical
observation :
Class
50-59
Interval
Frequency 2
60-69
70-79
80-89
90-99
5
8
12
15
100109
10
20. Calculate mean and median ? X:29,33,54,57,61,70,72,86,88,91
110119
8
Worksheet No 2
1. Find the mean deviation about arithmetic mean of the following simple
series of observations : 31, 35, 29, 64, 70, 40, 45, 20, 30, 50
2. Calculate the mean deviation about the arithmetic mean for the following
frequency distribution
Variable
20
25
30
35
40
Frequency
2
4
6
5
3
3. Following are the ranks of marks obtained by 8 students in Economics and
Mathematic. Find out the rank correction coefficient
Economics
2
1
4
5
3
7
6
8
Mathematics 1
3
2
7
5
6
8
4
4. Calculate the simple aggregative price relatives index on the basis of the
following data.
Commodity
Base year price per unit Rs.
Current Year price per unit Rs
Rice
120
180
Wheat
80
100
Oil
300
400
Pulses
130
180
Sugar
150
200
5. Prepare a pie diagram for representing the following statistical information
Export
Readymade garments, Handloom &
handicrafts, Food products,
Engineering goods, Gems and
Jewelleries
Amount of export income in Rs
5,235, 6,750, 3925, 6795, 4520
Work sheet No 3
1. What do you mean by the Sample Method ? explain its merits and demerits ?
2. Define law of demand ?
3. Discuss two factors affecting demand ?
4. What do you understand by joint and composite demand
5. Define elasticity of demand ?
6. Draw and define relatively elastic and in-elastic demand curve.
7. What do you mean by a questionnaire ?
8. Define Statics in the sense of singular and plural noun ?
9. Explain the notion of sustainable development ?
10. Explain four causes of unemployment in India.
11. Mention any two features of growth oriented definition of economics ?
12. Distinguish between :a. Total utility and Marginal utility b. Value in use and value in exchange c. APC
and MPC d. Fixed capital and Circulating capital e. Sunk & floating capital.
13. State what you mean by efficient use of resources.
14. State the three main problems faced by every economy.
15. Discuss the strengths and weaknesses of a mixed economy
16. What are the differences between socialistic and capitalistic economy
17. Discuss the advantages and limitations of price mechanism
18. Mention any two variables which determine the HDI
19. Calculate mode for the following data : X : 32,22, 29, 25, 17, 25, 40
20. Find the mean deviation about arithmetic 60, 34, 45, 50, 55, 70, 58, 52
RAJA RAM MOHAN ROY ACADEMY
SUBJECT – ECONOMICS
CLASS – XII, WORKSHEET NO.1
Answer the following questions
Worksheet No 1
1. State the effects of the following changes on the demand for a commodity by
the household.
i. A rise in money income of the household
ii. A fall in the prices of other related goods
2. State the effects of the following changes on the household’s demand for a
commodity
i. A fall in household’s income
ii. A rise in the prices of related commodities
3. In what direction will the movement along the demand curve be in the situation
of extension of demand ?
4. Give two examples of complementary goods
5. What is meant by consumer’s equilibrium ?
6. State the conditions of consumer’s equilibrium when a consumer purchases
two commodities
7. What is the shape of the demand curve in the case of perfectly elastic
demand? Show it in the diagram?
8. Draw a downward sloping straight line demand curve and tell the price
elasticity of demand on its following points
i. Mid point
ii. Above the mid point
iii. The point where the demand curve
meets the y-axis iv. Below the mid point v. the point where the demand curve
meets the x-axis.
9. What is meant by negative cross elasticity of demand ?
10. State the law of supply
Worksheet No 2
1. Tell about the direction of movement along the supply curve in the case of
extension of supply
2. What will be the shape of the straight line supply curve indicating inelastic
supply (or elasticity of supply less than unity) show it in the diagram ?
3. Give two points of difference between stock and supply ?
4. When supply remains unchanged, what is the effect of change in demand on
price ? shows it in the diagram
5. Define equilibrium price. Show it in the diagram .
6. What will be the total physical product when
i. Marginal physical product rises
ii. Marginal physical product declines but remains positive
iii. Marginal physical product is zero
iv. Marginal physical product is negative
6. What are the two reasons for the operation of diminishing returns to scale
8. Define average cost and marginal cost of production. Explain the shapes of
the average cost curves.
9. What does the difference between total cost and total fixed cost indicate in the
short run? And why does this difference rise with the increase in output? Show it
in the diagram ?
10. Why do TC and TFC become equal at zero level of output ?
Worksheet No 3
1. Classify the following into fixed cost and variable cost :
a. Rent for a factory building
b. Interest on capital
c. Expenses on raw materials
d. Salaries to permanent employees
e. Wages to daily labourers
2. Describe the relationship between TR and MR under imperfect competition
(and monopolistic competition)
3. Explain that a firm under perfect competition is price taker and not a price
maker
4. What is the shape of AR and MR curves under monopoly ?
5. What is the real flow of income ? show it in the diagram
6. Draw a diagram to show the real flow and money flow of income under a two
sector model of circular flow ?
7. Differentiate between intermediate goods and final goods
8. What is personal disposable income ? how do you derive personal disposable
income from personal income ?
9. What is meant by private income ?
10. a. Find compensation to employees from the following data
i. Net indirect taxes
ii. Gross value added at market price
iii. consumption of fixed capital
iv. operating surplus
v. mixed income of self employed
b. On the basis of following data calculate :
i. NDPfc
b. N I
i. Compensation to employees 170
ii. Rent 40
iv. Profit 25
v. Net factor income from abroad (-5)
15
125
10
50
30
iii. Interest 30