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Q.1 What is the importance of statistics in economics? Ans. A number of economic problems can easily be understood by the use of statistics. It helps in formulation of economic policies e.g., basic economic activities like production, consumption etc. use statistics. The importance of statistics in various parts of economics as follows: a) Statistics in consumption : To obtain the knowledge of how different groups of people spend their income from statistics relating to consumption. the data of consumption are useful and helpful in planning their budget and improve their standard of living. b) Statistics in production : The comparative study of the production process in done with the help of statistics. The statistics of production are very useful and helpful for adjustment of demand and supply and determining quantity of production of the commodity. c) Statistics in distribution : Statistical methods are used in solving the problem of distribution of national income among various factors of production i.e., land, labour, capital and entrepreneur.
Explain functions of statistics?
Ans. Statistics performs very important functions, these are : 1. Helps in Understanding Economic problem : Statistics in an indispensable tool for an economics that helps to understand an economic problem. Using its various methods, effort is made to find the causes behind it with the help of the quantitative facts of the economic problem. Presentation of facts in definite form: Statistics enables an economist to present economic facts in a precise and definite form that helps in proper comprehension of what is stated. W hen economic facts are expressed in statistical terms, they become exact. Exact facts are more convincing than vague statement. Statistics helps in condensing mass data in to few numerical measures : The numerical measures help to summarise data. For example, It would be impossible for us to remember the income of 143 XI – Economics
all the people in a data, it the number of people is very large. Yet one can remember easily a summary figure like the average income that obtains statistically. In this way statistics summarises and presents meaningful overall information about a mass of data.. 4. Establishes relation between factors : Statistics is used in finding relationships between different economic factors. An economist may be interested in finding out, what happens to the demand for a commodity when its price increases or decreases? Such questions can only be answered if any relationships exist or not can be easily verified by applying statistical methods. Helps in formulation of plans and policies : Statistical methods, help formulate appropriate economic policies and plans that solve economic problem.
Explain limitations of statistics?
Ans. Statistics has some limitations, these are : 1. Statistics does not study individuals : Study of an individual in not a part of subject matter of statistics. Statistics studies the aggregate of facts only. Statistics deals with quantitative facts only : Statistics are numerically expressed. Statistics does not study qualitative aspects. It can be used for measured quantitative data only. Statistical laws one true only on Averages : Statistical laws are not exact like the laws of physics, chemistry etc. Statistical results are true only on an average. Only experts can make the best possible use of statistics: Statistics can be used by experts only. It requires special knowledge to use statistical tools otherwise results may be wrong. Uniformity and Homogeneity of Data : It is essential that data must have the quality of uniformity and hemogeneity to make data comparable.
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result register etc. These are not original as these are already in existence. 145 XI – Economics AK . Example : investigator collects the marks obtained by class teacher in economics of class XI from his school records like award list. 3. These are original as these are collected from the source of origin.FREQUENTLY ASKED QUESTION CHAPTER2 COLLECTION OF DATA Q. 2. Secondary Data 1. Misinterpretation and misunderstanding can be avoided. Data collected by the investigator for his own purpose for the first time are called primary data. Collect highest response rate by this method. Q. money and efforts involved 4. These can be obtained from published or from any other sources. Merits : 1. The interviewer has the opportunity of explaining the study and answering any query of respondents. 2.1 Explain difference between primary data and secondary data? Primary Data 1. 4. These are costlier in terms of time. 3. Data which are already in existence and which have been collected for some other purpose are called secondary data. Example : Investigator makes a list of marks obtained by students in economics of class XI by interrogating them. 2.2 What is personal interviews to collect primary data? Mention its merits and demerits? Ans. The researcher conducts face to face interviews with the respondents. money and efforts involved. Personal Interviews : This method is used when the researcher has access to all the members. These are less costlier in terms of time.
Watching the reactions of respondents can provide supplementary information. Since all items are studied under census method. This method is suitable when the area under investigation is relatively small. 4. 5. Census method is suitable when items in the universe have diverse characteristics. 3. 2. 6. 4. 2. 6. 2. Differentiate between census and sample method? Difference between census method and sample method 1. 4. Presence of the researcher may inhibit respondents from saying what they really think. 1. This method is suitable when the area under investigation is large. Sample method is suitable when items in the universe are homogeneous. As only few samples are studied under sample method. Demerits : 1. XI – Economics 146 AK . 4. As all items are studied under census method. Sample method is less time consuming as only samples are studied. However errors can be eassly detected and removed. this method is comparatively less expensive. this method is very expensive and involves a lot of money and efforts. Q. highest degree of accuracy is possible. 3. Sample is a smaller group selected from the population from which the relevant information would be sought. Census covers every individual/unit belonging to the population.3.6 It is expensive It requires trained interviewers It takes longer time to complete the survey. Census method is very time consuming as all items are studied. 3. Since only representative samples are studied under sample method. It is less accurate. Allows clasification of ambiguous questions. 5.
Chronological Classification : In such a classification data are classified either in ascending or in descending order with reference to time such as years. If all items are not 147 XI – Economics 3. It becomes a quantitative classfication. Qualitative classification : Characteristics like nationality. districts etc. Diversification : Classification should be done in such a way that every item of study can be classified in to class.FREQUENTLY ASKED QUESTION CHAPTER3 ORGANISATION OF DATA Q. months. gender. 4. Spatial Classification : The data are classified with reference to geographical locations such as countries. literacy. 2. Q. They can not be measured. states. Each item of the data should belong to one particular class only. 4. are quantitative in nature. The raw data is classified in various ways depending on the purpose. Homeneity : The data classfied in one group or class should be homogeneous all items in a group must be similar to each other. weeks etc. There should be no confusion about the group or class of a given item.7 Discuss the different methods of classification of data? Ans. cities. marital status etc. Yet these attributes can be classified on the basis of either the presence or the absence of a qualitative characteristic. When the collected data of such characteristics are grouped into classes. Clarity : Classification should be done in such a way that meaningful conclusion is possible. are called qualities or attributes. income. Flexibility : Classification should be flexible and should be able to adapt to new conditon of the given enquiry. Quantitative classification : Characteristics like height. quarters. 3. religion. Such a classfication of data on attributes is called a qualitative classification. AK . 1. 2. The main characteristics of classification are : 1. weight. makers of students etc. Some of the classes may have to be abandoned and new classes need to be added. age.8 Explain characteristics of classification? Ans.
included in the classes arrangement of data will not be correct. Makrs 4 5 6 7 8 9 Total Tallybars I I I I I I I I I I I I I I I I I I I Frequency 2 5 4 4 3 2 20 148 XI – Economics AK . Suitable to objectives of study : The basis selected for classification should be in accordance with the objectives of the statistical study. If basis selected for classfication do not match the requirement. Marks 6 6 6 5 5 7 7 5 9 9 8 7 7 8 4 5 8 6 4 5 Ans.9 Construct a discrete frequency series with the help of following data by arranging in ascending order. Q. the entire exercise of investigation will be meaningless. 5.
Ans. Explain the main part of a table. Questions in constructions of histogram. Frequency curve – Must join the midpoints of the tops of rectangles with free hand. Ans. It is a process of presenting data in the form of a table. Q. frequency polygon and frequency group. Hints : Histogram ® all rectangles must be attached with each other Frequency polygon – Must join the midpoints of the tops of rectangles with scale. a) b) c) d) e) f) g) h) Table number Title Caption Stubs Body of table. Source Note Unit of measurement. Define tabulation. Hints : – Explain any six following points. 149 XI – Economics AK .FREQUENTLY ASKED QUESTION PRESENTATION OF DATA Q. (1 marks) Ans. Q.
Median. 150 XI – Economics AK . Not used in case of qualitative measurement Easy to understand. Mean Demerits a) Can’t located graphically b) Calculation not possible if single item missing c) Q. Which average would be suitable in the following causes? a) Average production in a factory per shift.FREQUENTLY ASKED QUESTION MEASURES OF CENTRAL TENDENCY Q. Median Merits a) Definite value b) Expressed/determined graphically. c) Easy to calculate Demerits a) Arrangment of data is required b) Not suitable for algebric treatment c) Affected by fluctuantions of items. Write merit of demerit of mean or median. c) In case of open ended frequency distribution Ans. Merits a) No need of arrangement of data b) Easy to calculate c) Based an all values of series Ans. a) Airthmatic Average b) Airthmaic Average c) Q. b) Average wages in an industrial concern. v) Capable of algebric treatment vi) Least affect of fluctuation. Requisites of an ideal averages : ii) Ans. i) iii) Rigidly defined iv) Based as all item of series. Easy to compute.
= 80. which studies about distribution of income. = 59%. C.) 20 60 100 140 180 220 260 300 Hints: Calculate Factory A 30 25 30 45 25 13 24 8 Factory B 45 35 25 40 25 20 5 5 and standard deviations of both factory. profit.V. variance = Q.6% Factory A is more uniform. = 114. What is variance. Q. = 75. of Workers Wages (in Rs. . wealth.8. wages etc. = Factory A ® Factory B ® = 137. No.V. What do your mean by lorenze curve. C. Then calculate coefficient of variance of both factory with the help of formula C. S.6. SD. 2 Ans. Ans. The square of standard deviation is known as variance = 2 x N From the following data find out which factory may be considered more uniform. = 66. 151 XI – Economics AK .D. It is a graphic representation of dispersion.FREQUENTLY ASKED QUESTION CHAPTER6 MEASURES OF DISPERSION Q.V.
Define correlation.3 Compute karl pearson’s coefficient from following data : X : Y : Hints i) ii) Compute mean of both series ( x y ) Take deviation from the mean (xy) — — 6 marks) 13 13 7 10 7 12 9 11 12 13 9 12 13 14 8 9 10 12 2 14 2 2 iii) Square the deviation of the both series (x y ) iv) Compute the product of deviation of both the series.FREQUENTLY ASKED QUESTION CHAPTER : 7 CORRELATION Q. Give an example each of positive and negative correlation 3 marks Hints : Positive correlation – Increase in Price and increase in supply Negative correlation – Rise in price and full in demand Q.115 (Low degree of negative correlation) 152 XI – Economics AK .2 Who probmted the rank difference method of correlation ? 1 Marks Hint : Prof. Charles spearman.1 Q. (xy) v) Use following formula = Answer = – 0.
FREQUENTLY ASKED QUESTIONS CHAPTER : 8 INDEX NUMBERS Q.2 What is the symbol of the price of the base year? Hint : P o State characteristics of index numbers Hints : 1) 2) 3) 4) 5) Q.1 Q.3 Expressed in numbers Relative measure Average of percentage Basis for comparison Universal utility 6 marks 3/4 marks 1 marks Write three uses of wholesale price Index? Hints : 1) 2) 3) Forecasting Demand and supply Determination of Real changes in Aggregate Indicator of Rate of Inflation. 153 XI – Economics AK .
154 XI – Economics AK . 3. Land settlement system Commercialization of Agriculture Low level of productivity Adverse effect of partition.1 Q. What were the two main draw backs of the industrial sector during colonial rule? 3/4 marks Hints : i) ii) iii) v) Q. 2.FREQUENTLY ASKED QUESTIONS CHAPTER : 1 INDIAN ECONOMY ON THE EVE OF INDEPENDENCE Q.3 Deindustrialisation Lopsided modern industrial structure Capital goods industries were lacking United operation of the public sector What were the main causes of India’s agriculture stagnation during the colorial period? 6 marks Hints : 1.2 What was the infant mortality rate of India during British Rule? Hint : 18 per thousand live births. 4.
Partial removal of poverty Differential gains Rise in unemployment Some other harmful effects.1 Q.3 Restricted to limited crops and areas.2 Who formulates plans in India? Hint : Planning Commission. Other residual industries left open to the private sector iii) Schedule C – 155 XI – Economics AK . 3/4 Marks 1 Mark How were the industries classified according to the industrial policy resolution 1956 (6 Marks) Hints : i) ii) Schedule A – Schedule B – 17 industries under the exclusive responsibility of state. What were the limitation of green revolution Hints i) ii) iii) iv) v) Q.FREQUENTLY ASKED QUESTIONS CHAPTER : 2 INDIAN ECONOMY 19501990 Q. 12 industries under the responsibility of state but private sector units would be allowed to expand existing units.
To reduce tariff and nontariff barrier 3/4 Marks 1 Mark iii) To ensure linkages between trade policies. environmental policies and sustainable development. iv) To raise the standard of living.3 Mention any three causes. iii) Huge burden of debts 156 XI – Economics AK . Fall in foreign exchange reserves.FREQUENTLY ASKED QUESTIONS CHAPTER : 3 ECONOMIC REFORMS SINCE 1951 Q.2 What are the objective of WTO? Hints : i) ii) To develop integrated and durable cultural trading system. which were responsible for economic reforms 6 Marks Hints : i) ii) v) Poor performance of public sector Difficult in balance of payment. 1 When was new economy policy announced? Hints : July 1991 Q. Q.
Hints : i) ii) iii) iv) v) vi) Food for work prog. Briefly explain calorie based measurement. (3/4 marks) Distinguish between absolute and relative poverty. state. Hints: Relative i) ii) Absolute i) ii) Poverty relative to other people. 23% papulation is below poverty iii) 3. (3 marks) Hints : i) ii) 2.FREQUENTLY ASKED QUESTIONS CHAPTER : 4 (POVERTY) 1. In India relative poverty measured by lorans curve person below poverty line. How poverty is estimated in India. Sampoorna Grameen Swarajgar Yojana (SGSY) Pradhan Mantri Gramodyog Yojana (PMGY) Pradhan Mantri Rojgar Yojana (PMRY) Indira Awas Yojana (IAY) National Rural Employment Guarantee Act (NREGA) 157 XI – Economics AK . Measure with the help of poverty line. Explain poverty alleviation programme started by Govt. Briefly monthly per capita consumption expenditure. India is among the iii) poorest country of world.
(3/4 marks) Explain the role of education in the development of a country.FREQUENTLY ASKED QUESTIONS CHAPTER : 5 HUMAN CAPITAL FORMATION Q. educated. (6 marks) a) b) c) d) e) f) Education raises production. Training Expenditure as information. trained and experienced human capital in an economy. Education generates employment Education brings positive changes in outlook and attitudes. Q. Education raises efficiency and productivity. On job training. Expenditure on education. Expenditure on health. It is the process of adding to the stock of skilled. Education increases the stock of human capital. Ans. Define Human Capital Formation? (1 mark) Ans. Education improves quality of life. Hints : Explanation of following points 158 XI – Economics AK . Explain main sources of human capital Hints : Explain the following point : a) b) c) d) e) Q.
Inspections of coopperative banks and RRBs. Grant longterm loan to state govt. and Land Development Bank. Q. Multi agency approach consist of : It was set up to provide rural credit in all rural areas.FREQUENTLY ASKED QUESTIONS CHAPTER : 6 RURAL DEVELOPMENT Q. Regional Rural Bank. (1 mark) Ans. Serve as refinancing agencies. What do you means by rural development. village industries and rural crafts. Coordinasion of activities concurring to the development of SSIs. Ans. Rural development means focus on providing basis infrastructure to that rural areas which are lagging behind for overall development of the village economy. What is a multi agency system? Why was it set up in India? (3/4 marks) a) b) c) Cooperative credit societies Commercial banking. To promote research in agriculture and rural development. Q. Ans. Explain Functions of NABARD a) b) c) d) e) f) Providing loan (short. Hints : 159 XI – Economics AK . mediums long) to cooperative societies. RRBs.
It is a situation where there is an overall acceleration in the growth rate of GDP in the economy which is not accompanied by a commensurate expansion in employment opportunities. a) b) c) d) e) f) g) Poverty employment planning Lacks of financial resources Increasing population. Open unemployment Fractional unemployment Structural unemployment Cyclical unemployment Seasonal unemployment Disguised unemployment (6 marks) (3/4 marks) Ans. INFORMATION AND RELATED ISSUES Q. What a main types of unemployment. Unbalance growth of sectors. Explain any What are main causes of unemployment.FREQUENTLY ASKED QUESTIONS CHAPTER : 7 EMPLOYMENT GROWTH. Slow economic growth Emphasis an capital intensive projects. Q. Explain the following : 160 XI – Economics AK . Poor growth of small scale industries. a) b) c) d) e) f) Q. What is Jobless Growth? (1 marks) Ans. Ans.
161 XI – Economics AK . (1 marks) Q.FREQUENTLY ASKED QUESTIONS CHAPTER : 8 INFLATION Q. Reasons : i) ii) iii) iv) v) Growth of black money Increase in population Increase in money supply Increase in public expenditure Increase in disposable income of the consumer. 1 Define Inflation Hints : Inflation is situation of persent and appreciable rise in prices.2 Explain fiscal measure to control inflation.3 What is demand full inflation ? What are its causes? (6 marks) Demand pull inflation arises when there is an excess of demand for goods over their supply. Hints : Revenue policy – Raise taxation Expenditure policy – Reduce expenditure (3/4 marks) Q.
It indirectly supports the economic system. They command a price and users have to pay a price for them. Expenditure on it will raise the stock of human capital. 3. Q. It improver the quality of economic resources 4. 3. Examples : Health. Ans. They are free and command no price 2. Differentiate Economic Infrastructure and social infrastructure? Ans.2 What is the significance of ‘Energy’? Differentiate between commercial and noncommercial sources of energy. There are two types of infrastructure. Expenditure on it will raise the stock of physical capital Social Infrastructure 1. It directly supports the economic system. Energy is a important aspect of development process of a nation. 162 NonCommercial Source 1. It improves the quality of human resources. XI – Economics AK .Economic Infrastructure 1. Education and housing. 4. agriculture and related areas like transportation of finished goods. They are generally exhaustible except hydel power. 2.FREQUENTLY ASKED QUESTIONS CHAPTER : 9 INFRASTRUCTURE Q. Examples: Energy. Infrastructure refers to the basic supporting structure which is built to provide different kinds of services in an economy. It is also used for domestic purposes like cooking. It is essential for industries.1 Explain the term ‘Infrastructure’. lighting. transport and communication etc. Infrastructure contributes to economic development of a country. Difference between economic and social infrastructure . heating etc. Difference between commercial and noncommercial sources of energy Commercial Source 1. They are renewable 2. 2.
4. Abortion and also a major cause of maternal morbidity and mortality in India.4 How has women’s health become a matter of great concern? Ans. Examples – Coal. Examples – vegetable wastes firewood and dried drug. They suffer the most as compared to men in the areas of education employment and health case. there is growing incidence of female foeticide in the country as there is decline in the child sex ratio from 945 in 1991 to 927 in 2001. 2. 3. Mostly used for domestic purposes 4. Difference between convention and nonconventional Sources of Energy Conventional Source 1. wind energy. Women constitute about 50% of the total population in India. 4. This source is being used in total disregard to our environment. 3 Differentiate between conventional source and nonconventional source of energy? Ans. These are being used as very long time. They help to check pollution. 4. Q. These are being used since 2. AK . 3. Conventional sources of energy include both commercial and noncommercial sources of Energy NonConventional Source 1. different sources of energy to a very little extent. tidal energy etc. Examples – Solar energy.3. 1. more than 50% of married women (between the age group of 15 to 49) have anaemia and nutritional anaemia caused by iron deficiency. wind energy. 2. 3. 163 XI – Economics 4. petroleum and electricity etc. close to 3 lakh girls below 15 years of age have already become mothers. Q. Mostly used in production process Examples – Coal. Nonconventional sources of energy are renevable resources of energy like solar energy. petroleum and electricity 3.
desert etc. 4.) that influence each other. 3.5 W hat is meant by environment? W hat are the functions of the environment? Ans. Environment absorbs garage. The environment performs four vital functions : 1. Sustainable development is that process of development which meets the needs of present generation without reducing the ability of future generation to meet their own needs.) and abiotic factors (Air. land. adding to the quality of life. Environment assimilates waste because production and consumption activities generates waste.6 What is sustainable development? Keeping in view your locality describe strategies of sustainable development? Ans. Environment includes oceans. soil. Use of cleaner fules : LPG. Strategies for sustainable development i) ii) iii) iv) v) Use of nonconventional sources of energy Use of solar energy and wind power. gobar gas in rural areas and CNG in urban areas Shift to organic forming People should use public means of transport 164 XI – Economics AK . water and air which are essential for the sustenance of human life. Environment enhances the quality of life. sunlight etc. Environment is defined as the total planetary in heritance and the totality of all resources. 2. Q. Menenjoys these surroundings.FREQUENTLY ASKED QUESTIONS CHAPTER : 10 ENVIRONMENT AND SURTAINABLE DEVELOPMENT Q. the birds. It includes all the biotics. This accur mostly in the form of garbage. resources include both renewable and nonrenewable resources. fisheries etc. mountain. water. Envrionment supplies resources. animals and plants. Environment sustains life because environment includes sun.
Extinction of species as ecological niches disappear More frequent tropical storms and An increased incidence of tropical diseases Dichotomy of the threat to India’s environment : the developmental activities in India have resulted in pressure on its finite natural resources. Q. 165 XI – Economics AK . Global warming is caused by man made increase in carbon dioxide (CO ) and 2 other greenhouse gases through burning of fossil fuels and deforestation. Some of the long term results of Global warming are as follows : i) ii) iii) iv) Melting of polar ice with a resulting rise in sea level and coastal flooding.vi) vii) People should use traditional knowledge and practices People should not use polythene bags and air conditioners. besides creating impacts on human health and well being. deforestation and wildlife extinction are some of the most pressing environmental concerns of India. 7 Write short note on i) ii) Global Warming Dichotomy of the threat to India’s environment Global Warming : Global warming is a gradual increase in the average temperature of the earth’s lower atmoshphere and oceans. water contamination. Air pollution. The threat to India’s environment pases a dichotomy – threat of poverty induced environmental degradation and at the same time threat of pollution from affluence and rapidly growing industrial sector. soil erosion.
One child norm is the major reason for low population growth. China has the largest GDP (PPP) of $7. 4.6 26 56 77 . 6.768 5096 16. Human development index GDP per capita People below poverty line Infant mortality rate (per 1000) Maternal mortality rate (per lakh) Population with sustainable access to an improved water source 166 India . Q.539 2225 17.FREQUENTLY ASKED QUESTIONS CHAPTER : 11 DEVELOPMENT EXPERIENCE OF INDIA : A COMPARISON WITH NEIGHBOURS Q. The fertility rate is low in China and very high in Pakistan. China was able to maintain near double digit growth because It was 10. 9 Compare India Pakistan and China on the basis of GDP growth rate? Ans.611 3139 34. In 1990s there is a marginal change in India’s and China’s growth rates whereas Pakistan had a drastic decline to 3. The sex ratio is low and biased against females in all the three countries.10 Compare human development indicators of India with China and Pakistan? Ans. But this measure led to a decline in the sex ratio that is the proportion of females per 1000 males. Population growth is highest in Pakistan followed by India and China. When many developed countries were finding it difficult to maintain a growth rate of even 5%.0 80 500 91 XI – Economics AK .3 trillion and Pakistan’s GDP is roughly 10 percent of India’s GDP.6 percent.8 Mention the salient demographic indicators of China.3 percent.2 trillion whereas India’s GDP (PPP) is the $3. India and Pakistan? Ans. Then is strong sonpreference prevailing in all these countries as the reason.7 62 540 86 China Pakistan . Some scholars held the reform process introduced in 1988 in Pakistan and political instability as the reason behind this trend. Parameters of human development are Items 1. The population of Pakistan is very small and accounts for roughly about one tenth of China and India though China is the largest nation geographically among the three its density is the lowest. 3. 5. Q. 2.
Pakistan is ahead of India in reducing proportion of people below the poverty line and also its performance in access to water is better than India. But neither of these two countries have been able to save women from maternal mortality.It is clear in most areas of human development China has performed better than India and Pakistan. This is true for many indicators GDP per capila or proportion of population below poverty line or health indicators such as morality rates. 167 XI – Economics AK .