ECON OMICS

XI

Q1.) Define Economics ? (1)

Q2.) What is meant by Economic problem ? (1)

Q3.) What is meant by PPC ? (1)

Q4.) When can PPC be a straight line ? (1)

Q5.) What are the various Economic activities ? (1)

Q6.) Define Economic Activity ? (1)

Q7.) Name the various components of Micro economics & Macro economics ? (2)

Q8.) Differentiate between Micro economics & Macro economics ? (2)

Q9.) Explain Opportunity Cost & Marginal Opportunity Cost? (3)

Q10.) Explain any 3 limitations of Statistics ? (3)

Q11.) Name the three Central problems of an economy ? (3)

Q12.) Explain any 3 importance of Statistics in economics ? (3)

Q13.) Explain Positive & Normative Economics ? (4)

Q14.) Differentiate between Centrally planned economy , Market economy , &

Mixed economy ? (4)

Q15.) Read the following and write true or false with a reason . (4)

(i.)When output of Good-1 increases from 100 units to 110 units & output of
Good-2 decreases from 400 to 350 units , marginal opportunity cost = 50 units.

(ii.)PPC shows increasing slope.

Q16.) How to produce is a complex problem for less developed countries like
India . Explain how . (4)

Q17.) Draw a PPC Curve & indicate the following situations on the diagram : (6)

(i)Fuller & efficient utilization of resources

(ii)Underutilization of resources

(iii)Growth of resources

Q18.) Draw transformation Curve , given the following possibilities of production

(resources & technology remain constant ). Also , find the Marginal Opportunity
Cost when more & more guns are produced in place of bread . (6)

Guns (units ) 0 1 2 3 4 5

Bread (units) 30 28 24 18 10 0