Eco Term II

Venkateshwar Global School, Rohini
Term II Term End Exam (2021-22)

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ECONOMICS
Name: lamalha
Time: 2 hours
Class:XT
M.M: 40 Section : Celumba
Subject Code: 030
Date: 18.02.22
Roll No.: 39
General Instructions
This is a Subjective Question Paper
This paper contains 5 questions of 2 marks each, 5 questions of 3 marks each and 3 questions of 5 marks
each.
2 marks questions are Short Answer Type questions to be answered in 30-50 words.
3 marks questions are Short Answer Type questions to be answered in 50-80 words.
5 marks questions are Long Answer Type questions to be answered in 80-120 words.
Q. Read the following extract and answer the following questions:
The pandenmic is causing a high impact on the supply chain industries, which includes manufacturers,
wholesalers, and retailers all over the globe. Economically, affected countries are facing challenges
related to the supply chain for transportation of essentials. COVID-19 also afects the supply chain
related to health care. It causes suspension of retail trade, save for essential goods for sustainability
(including medicines, food, and their supply chains) with financial, banking, and insurance services.
Industries are facing challenges in the supply chain for transportation of goods, especially essential
grocery items during this COVID-19 and problem related to suppliers. 2
a) State the impact of the above extract on supply of essentials. Give reason.
b) State the elasticity ofsupplyof essentials during COVID-19 using the above information, give reason.
2 . Assuming kitchen as the company, the baseline of production is that over the course of a shift, one
cook can make five plates of noodles. The kitchen wants to triple noodles production, so they hire
two more cooks. As it turns out, those three cooks can only produce 12 plates of noodles. Why?
Ldentify the phase and give reason. 2
, Q3. State true or false for the following statements with reason: 2
a) When price rcduces output increases, AR>MR.
bWhen MR=0, AR is also zero.
Q4. Following are the heights and weights of 10 students of class XI. Draw a scatter diagram and interpret
the result. 2
Heigh (X)62 72 68 58 65 70 66 63 60 70
Weight(Y)50 6 5 63 50 54 60 61 S6 54 65
5. In a 2:5°% of the persons earned more than rupees 45.000, whereas. /5% earncd
town. more than rupee
18.000. Caleulate the absolute value of dispersion. 2
OR
Compute Inter Quartile range from the following data:
Marks 10 20 30 40 50 60
No. of students 15 8 2
g6. ayComplete the following table:

(2+1)
Output AVC TC MC
60 20
18
3 18
4 20 120 24
22 3
5 A bag manufacturing firm make 5 bags a day and

that the cost of hiring the machine is
rupees 500 per
day. Identify the type and the value of cost incurred between 0-5 bags in a day.
Q7. Explain the relationship between MC and AVC with the help of a diagram. 3
OR
State the following questions as true or false with reason:
a) As soon as MC starts rising, AVC also starts

rising.
b) As output is increased, the difference between Average Cost and Average Variable Cost falls and
ultimately becomes zero.
c)The difference between TC and TVC falls with increase in output.
g8. Average daily wage of 50 workers of a factory was rupees 200 with a standard deviation of Rs. 40. Each
worker is given a rise of Rs. 20. What is the new
average daily and standard deviation? Have the
wage
wages become more or less uniform?
3
Q9. Calculate standard deviation from the following data taking A = 15:
0-10 10-20 20-30 30-40
F
2 3 4
10. xplain any three uses of Consumer Price Index.

3
. Answer the following:
(3+2)
a) One can see that there are many restaurants in
any town and each one of them
of food and prices of the product offered in the competes on the quality
market. In every area. it can be
seen that some restaurant
charges rupees 50 for one product and tor the same
procduct another restaurant is charging
rupees 80.
Identify and explain the market. the feature and its implications.
b),Give two reasons why fim under perfect competition is a price taker and not a price maker.
M2. Answer the following: (2.5+ 2.5)
a) Explain with the help of a diagram, a situation of change in demand and supply that causes no change
in equilibrium price but a rise in equilibrium quantity.
b) Market for a good is in equilibrium. Supply of good increases. Explain the chain of effect of this
change. Use diagram.
OR
A market for garments is in equilibrium. Using diagram, explain the situation where both demand
and supply of garments changed without any impact on equilibrium quantity.
ALa given price of acommodity there is excess supply. Is this the cquilibrium price?1fnot, how will
the equilibrium price be reached? Use diagram.
o. From the following data, find the coefficient of correlation between Age X) and Playing Habits (Y).
(Take A for X series as 45 and A for Y series as 30) 5
- 0 9
X 25 35 45 55 65
Y 40 50 30 10 5

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Venkateshwar Global School, Rohini

Term II Term End Exam (2021-22)

Q. Read the following extract and answer the following questions:

Compute Inter Quartile range from the following data:

g6. ayComplete the following table:

5 A bag manufacturing firm make 5 bags a day and

a) As soon as MC starts rising, AVC also starts

10. xplain any three uses of Consumer Price Index.

M2. Answer the following: (2.5+ 2.5)

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