DELHI PUBLIC
SECTION SCHOOL,
A — MICRO MIHAN
ECONOMICS
WORKSHEET XI HALF YEARLY 25-26 — ANSWER KEY (ECONOMICS & STATISTI
Q1 to Q10: MCQs (Answers shown)
Q1. Rightward
Prepared by: ChatGPT
shift in PPC
(Answer
(b). Explanation:
Key) Fit India improves health/productivity—more effective resources.
Q2. 30,000 (b). Work: Dx = 12-2Px => at Px=3, Dx=6 per customer ⇒ 6×5,000 = 30,000.
Q3. Elastic (a). Elasticity = %∆Q / %∆P = -25% / 22% ≈ -1.136 (|E|>1).
Q4. Increase in demand (a). The curve shown represents a rightward shift of demand, indicating increase in demand.
Q5. MU is zero (b). At TU maximum marginal utility = 0.
Q6. A is false, R is true (d). Demand for antiques need not be perfectly inelastic; R is correct definition.
Q7. Correct matching is A-ii, B-iii, C-iv, D-i → option (c). (Hence choose (c) as the correct matching.)
Q8. Statement1 false, Statement2 true (b). Slope is based on absolute change; elasticity uses percentage changes.
Q9. 800 trousers (c). Opportunity cost of producing 1000 shirts = 800 trousers.
Q10. Facts and figures (c). Positive economics deals with objective facts.
Q11. Explain the Law of Demand (3 marks)
Law of Demand: Other things remaining the same (ceteris paribus), there is an inverse relationship between price and qua
Diagram: (Demand curve downward sloping from left to right). Reason: Substitution effect and income effect.
Short explanation: When price of a good rises, consumers substitute cheaper alternatives and effective real income falls, re
Q12. Diminishing Marginal Utility with interval consumption (3 marks)
Statement defence: Law of diminishing marginal utility states that as a consumer consumes more units of a good, the addi
Conclusion: Law holds for interval (discrete) consumption as well.
Q13. Difference: Individual demand vs Market demand + Factors causing fall in individual demand (4 ma
Individual demand: Quantity of a good a single consumer is willing & able to buy at different prices, ceteris paribus.
Market demand: Horizontal sum of individual demands of all consumers at each price.
Factors causing fall in individual demand:
1. Rise in price of the good (price effect)
2. Fall in consumer income (for normal goods)
3. Fall in taste or preference for the good
4. Rise in price of complementary goods or availability of substitutes
5. Expectation of future price fall
Q14. Name curve showing production potential and its properties (4 marks)
Curve: Production Possibility Curve (PPC) or Production Possibility Frontier (PPF).
Properties:
1. Negative slope: trade-off between two goods (to produce more of one, give up some of the other).
2. Concave to origin (bowed out): increasing opportunity cost (resources are not equally efficient in all uses).
3. Points on curve: efficient use of resources; inside curve: inefficient; outside: unattainable with current resources.
4. Shift outward: indicates growth of resources or technological progress; inward shift: fall in resources/production capacity
Q15. Budget line and Indifference curve & why downward sloping (4 marks)
Budget line: A locus of combinations of two goods that a consumer can purchase given incomes and prices. Equation: PxX
Indifference curve (IC): Locus of combinations of two goods that give the consumer the same level of satisfaction (utility).
Why downward sloping:
- Budget line: to buy more of one good you must give up some amount of the other given fixed income — negative slope =
- Indifference curve: to keep utility constant when you get more of X you must give up some of Y (marginal rate of substitut
Q16. (a) Price elasticity & effect on Y (4+2 marks)
Given: Demand for X rises from 100 to 250 when price falls by 20%.
Percentage change in Q = (250-100)/100 ×100% = 150%.
Price elasticity of demand for X = %∆Q / %∆P = 150% / 20% = 7.5 (elastic).
Demand for Y has the same price elasticity (7.5). Price of Y falls by 8% ⇒ %∆QY = 7.5 × 8% = 60% rise in demand for Y.
(b) Highly elastic demand: A small change in price causes a large change in quantity demanded (|E| >> 1). Goods with clo
Q17. Utility analysis equilibrium (4 marks) and MRS condition (2 marks)
Given: Px=5, Py=4; MUx=5, MUy=4.
Check MU/P: MUx/Px = 5/5 = 1; MUy/Py = 4/4 = 1 ⇒ MUx/Px = MUy/Py ⇒ consumer is in equilibrium (consumer maximiz
Rational consumer: no incentive to reallocate spending as utility per rupee is equal.
MRSxy = Px/Py explanation: MRS = MUx/MUy. At optimum MUx/MUy = Px/Py ⇒ MUx/Px = MUy/Py. This equates margin
Is it sufficient? It is necessary but not always sufficient; second-order conditions (diminishing MRS and convex preferences
SECTION B — STATISTICS
Q18. Mailed questionnaire method (b). It can cover wide geographic area at low cost.
Q19. Angular Circle Diagram (c). Other name of pie diagram.
Q20. Median (a). Median can be found using ogive.
Q21. 11 (b). Sum = mean×n = 6×6 =36 => x =36 - (1+3+5+6+10)=11.
Q22. Both true (c). Data must be homogeneous for comparison; non-comparable figures lose significance.
Q23. 56 (c). Using empirical relation Mode = 3×Median − 2×Mean = 3×40 − 2×32 = 56.
Q24. Both true and R explains A (b). Techniques are complicated so experts make best use.
Q25. Tabulation aims to present classified data in a complex manner — NOT true (d).
Q26. 35 (a). N = 1260 / 36 = 35.
Q27. Median (c). Positional average is median.
Q28. Change in average after admission and leaving students (3 marks)
Initial: n=10, average=68 ⇒ total = 680.
New student joins with 72 ⇒ total = 680 + 72 = 752.
Two students leave with marks 40 and 39 ⇒ total = 752 - 40 - 39 = 673.
New number of students = 10 + 1 - 2 = 9.
New average = 673 / 9 = 74.777... ≈ 74.78.
Q29. Mode of the series (3 marks)
Class intervals: 0-5, 5-10, 10-15, 15-20, 20-25
Frequencies: 2, 4, 15, 6, 7
Modal class = 10-15 (fm = 15), f1 = 4 (previous), f2 = 6 (next), h = 5.
Mode = L + [(fm - f1) / (2fm - f1 - f2)] × h
= 10 + [(15-4) / (30 - 4 - 6)] × 5 = 10 + (11/20)×5 = 10 + 2.75 = 12.75.
Q30. Pie diagram angles (4 marks)
Total = 500 people.
North Indian: 150 ⇒ 150/500 = 0.30 ⇒ angle = 0.30×360 = 108°.
South Indian: 100 ⇒ 0.20 ⇒ angle = 72°.
Chinese: 125 ⇒ 0.25 ⇒ angle = 90°.
Italian: 75 ⇒ 0.15 ⇒ angle = 54°.
Mexican: 50 ⇒ 0.10 ⇒ angle = 36°.
These angles add to 360°. (You may draw a pie chart using these angles.)
Q31. Are Classification and Tabulation the same? Sample table (4 marks)
Comment: Classification is the process of arranging raw data into groups/classes; Tabulation is presenting classified data i
Sample table (illustrative):
--------------------------------------------------------------
[Link] | Age Group | No. of Students
1 | 10-14 | 12
2 | 15-19 | 18
3 | 20-24 | 10
--------------------------------------------------------------
Q32. Primary data — definition & merits (4 marks)
Primary data: Data collected first-hand by the investigator for a specific purpose (e.g., surveys, experiments, interviews).
Merits:
1. Specific to the study's needs (relevant)
2. Accurate and reliable if proper methods are used
3. Up-to-date
4. Investigator controls quality and method of collection
Q33. (a) Frequency table (class width 20, first class mid = 70) and (b) percent & min/max (6 marks)
Classes (width 20) and frequency (using first class mid 70 ⇒ 60-80):
60 - 80 : 6
80 - 100 : 6
100 - 120 : 7
120 - 140 : 7
140 - 160 : 3
160 - 180 : 1
Mid values: [70.0, 90.0, 110.0, 130.0, 150.0, 170.0]
(b)(i) % of teenagers with pocket money between ■80 and ■120 = 14/30 ×100 = 46.67%
(b)(ii) Maximum amount = 175, Minimum amount = 62
Q34. Calculate Mean, Median and Mode from given data (4 marks)
Mean = 23.25 ; Median ≈ 21.0 ; Mode ≈ 16.875