Model Paper 1 — Economics STD 11 Commerce — Question

Wages of 50 workers are given. Present them in the form of exclusive frequency distribution with class interval as 40–50.
95, 92, 91, 90, 88, 82, 86, 87, 87, 88, 70, 72, 76, 77, 77, 79, 79, 79, 78, 78, 68, 67, 67, 66, 65, 63, 63, 63, 63, 64, 58, 59, 60, 60, 60, 60, 61, 62, 62, 62, 55, 55, 55, 56, 57, 54, 53, 52, 52, 50.

What are the main objectives of tabulation?

Construct the index number by simple average of price relative method and by simple aggregative method:

Commodity	A	B	C	D	E
Price in 2014 (₹)	16	40	35	5.25	2
Price in 2015 (₹)	20	60	50	6.25	1.5

Read the following case study carefully and answer the questions 1-2 on the basis of the same:
Cost is one of the major constraints of production. Cost ceases the degree of freedom of a person to choose enterprise and work on that. Cost also forces farmers or producers to work according to their cost bearing ability. Cost is not so simple and straightforward. It has multiple attributes, can be clearly seen or hidden, may be incurred in the short run or may appear in the long run. So the cost is very vast in itself and its effects are very serious. Hence to manage the problem of cost there should be proper knowledge on the cost, types, its attributes, its impact and ideas presented by different theories on cost.
—Upadhyaya, Navaraj \& Gaire, Amita \& Gyawali, Pushpa, A term paper of Microeconomics on Theory of Cost, Cost Addition and Cost Leadership Approach, Application of Production, and Marketing Cost in Agriculture, 2020
1. Does short period TC curve starts from Y-axis? Comment.
2. AC curve must eventually rise during the short period. Do you agree?

Define elasticity of demand. Explain any one method of measuring it.

What are the advantages and disadvantages of tabular presentation of data?

Distinguish between total utility and marginal utility.

Define statistics in plural sense. Give its any two characteristics.

The following news was printed in the Economic Times: Petrol and diesel prices were cut by ₹ 2 per litre each as international oil prices slumped to a five-year low.
Use a diagram and economic theory to analyse the impact on the demand for cars in India.