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ISC Class XI Notes 2020 : Economics (Gurukul Academy, Lucknow)

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Om Lakhmani
Gurukul Academy, Lucknow
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ECONOMICS (Maximum Marks: 80) (Time allowed: Three hours) (Candidates are allowed additional 15 minutes for only reading the paper. They must NOT start writing during this time.) -----------------------------------------------------------------------------------------------------------------------Answer Question 1 (compulsory) from Part I and five questions from Part II. The intended marks for questions or parts of questions are given in brackets [ ]. -----------------------------------------------------------------------------------------------------------------------PART I (20 Marks) Answer all questions Question 1 Answer briefly each of the following questions (i) to (x): (i) Define economics as given by P.A. Samuelson. (ii) Differentiate between absolute poverty and relative poverty. (iii) Define statistics. (iv) What is meant by formal education? How is it different from informal education? (v) Differentiate between primary data and secondary data. (vi) What is meant by sustainable development? (vii) Differentiate between total utility and marginal utility. [10 2] (viii) Explain the meaning of disinvestment. (ix) State any two purposes of constructing index number. (x) Define cost push inflation. PART II (60 Marks) Answer any five questions. Question 2 (a) State three differences between micro economics and macro economics. [3] (b) Discuss the features of production possibility curve, with the help of a diagram. [3] (c) Explain how price mechanism can be used to solve the basic problems in an economy. [6] -----------------------------------------------------------------------------------------------------------------------1 SPECIMEN QUESTION PAPER CLASS XI - 2019

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