HBSE Class 11 Sample Paper 2024 Answers Economics

HBSE
MODEL PAPER
2024
Practice Papers
MODEL PAPERS
Marking Scheme
ANSWER KEY

576

XI

i
ii

iii
iv

v

vi

vii

a) b
c d
d

a) L2 –L1 b L2 +L1 c (L1 +L2)/2 d (L1 -L2)/2
c (L1 +L2)/2
x, y (-,-)
a) b c d
c

a) b c -1 d
c -1

a) b c d
b

)

Median

(A):
( R) :
(A) ( R) ( R) ( A)

(A): = =
( R) :
(A) ( R) ( R) ( A)

X 2 4 6 8 10
Y 5 10 15 20 25

X Y x y x2 y2 xy
2 5 -4 -10 16 100 40
4 10 -2 -5 4 25 10
6 15 0 0 0 0 0
8 20 2 5 4 25 10
10 25 4 10 16 100 40
∑X ∑Y ∑x ∑y ∑x2 ∑y2 ∑xy
30 75 0 0 40 250 100

x = ∑X/N =30/5 =6 y = ∑Y/N =75/5=15

∑𝐱𝐲
Coefficient of correlation (r) =
∑𝐱𝟐 √ ∑𝐲𝟐

𝟏𝟎𝟎
=
√𝟒𝟎 √ 𝟐𝟓𝟎

𝟏𝟎𝟎
=
√𝟏𝟎𝟎𝟎𝟎

𝟏𝟎𝟎
= 100
= 1 (perfect positive )

Rank correction Co-
efficient
X 20 11 72 65 43 29 50
Y 60 63 26 35 43 51 37

X 20 11 72 65 43 29 50
Y 60 63 26 35 43 51 37
R1 2 1 7 6 4 3 5
R2 6 7 1 2 4 5 3
D -4 -6 6 4 0 -2 2

HERE , ∑D2 = 112
Rank correlation coefficient = 1 - 6∑D2
N3 – N

=1 - 6(112)
73 -7
=1 - 672/336
=1-2
= -1(perfect negative)

A 5 50 7 60
B 6 15 8 10
C 8 8 11 12
D 7 20 10 15

Goods p0 q0 p1 q1 p0q0 p1q0 p1q1 p0q1

A 5 50 7 60 250 350 420 300

B 6 15 8 10 90 120 80 60

C 8 8 11 12 64 88 132 96

D 7 20 10 15 140 200 150 105

544 758 782 561

Σ𝑝1𝑞0 Σ𝑝1𝑞1
Fisher Ideal Index = × ×100
Σ𝑝0𝑞0 Σ𝑝0𝑞1
758 782
= × ×100
544 561
= √1.9423 ×100
=139.37

i

X Tally Bars Frequency
100-150 |||| 4
150-200 |||| | 6
200-250 |||| |||| ||| 13
250-300 |||| 5
300-350 || 2

ii

families spending less than 250 rupees per month = 4+6+13=23
families spending more than 150 rupees per month = 6+13+5+2=25

Pie Digram

Items Expenditures Expenditures
(in rupees) (in degree)
Wheat 35 70
Pulses 50 100
Rice 35 70
Vegetables 40 80
Milk 20 40
Total 180 360

Milk , 40
Wheat , 70

Vegetables,
80
Pulses, 100

Rice, 70

1

1

2

2

1

5

Mean Median Mode

X 0-10 10-20 20-30 30-40 40-50
F 2 4 6 4 2

X F M FM C.F.
0-10 2 5 10 2
10-20 4 f0 15 60 6 cf
20-30 6 f1 25 150 12
30-40 4 f2 35 140 16
40-50 2 45 90 18
Total 18(N) 450

Σ𝑓𝑚
Mean = Σ𝑓 =450/18 = 25

𝑁
−𝑐𝑓
Median = 𝑙1 + 2 𝑓 ×𝑖
9−6
= 20 + 6 × 10
= 20+5 =25

𝑓1−𝑓0
Mode = 𝑙1 + 2𝑓1−𝑓0−𝑓2 × 𝑖
6−4
= 20 + 2(6)−4−4 × 10
= 20+5 = 25

OR

Mid value 1 2 3 4 5 6 7

Frequency 3 10 12 20 12 10 3

M F X Cf
1 3 0.5-1.5 3
2 10 1.5-2.5 13
3 12 f0 2.5-3.5 25 cf
4 20 f1 3.5-4.5 45
5 12 f2 4.5-5.5 57
6 10 5.5-6.5 67
7 3 6.5-7.5 70(N)

𝑁
−𝑐𝑓
Median = 𝑙1 + 2 𝑓 ×𝑖
35−25
= 3.5 + 20 ×1
= 3.5+0.5= 4

𝑓1−𝑓0
Mode = 𝑙1 + 2𝑓1−𝑓0−𝑓2 × 𝑖
20−12
= 3.5 + 2(20)−12−12 × 1
= 3.5+0.5 = 4

a) b) c) d)
a)

a) 74% b) 56% c) 65% d) 60%
a) 74%

a) b) c) d)
b)

a) b) c) d)
c)

a) b) c) d)
d)
(NITI)

(A): (FDI)
( R) :
(a) (A) ( R) ( R) ( A)

(A):

( R) :
(a) (A) ( R) ( R) ( A)

LPG

MRTP

MARKING SCHEME
ECONOMICS (576)
SAMPLE PAPER
CLASS XI
SESSION 2023-24

TIME : 3 HRS M.M :80

Q.NO. EXPECTED ANSWER/ VALUE POINTS MARK
S

SECTION –A STATISTICS FOR ECONOMICS

1 Stages of statistics are
(a)Collection of data (b) Presentation of data (c) Analysis of data (d)Above all
1
(d)Above all
2 Formula for find out Mid value is 1
(a) L2-L1 (b ) L2 + L1 (c) ( L1 + L2 ) /2 (d) (L2-L1) /2
(c) ( L1 + L2 ) /2
3 In which quadrant X,Y have (- ,-) sign ? 1
(a) First quadrant (b) Second quadrant (c) Third quadrant (d)Fourth
quadrant
(c) Third quadrant
4 The value of coefficient of correlation always lies between 1
(a) 0 and +1 (b) -1 and 0 (c) -1 and +1 (d) None of above
(c) -1 and +1
5 If the arithmetic mean of a series is 20 and 5 is added in every item of the series . 1
What will be new arithmetic mean?
(a) 20 (b) 25 (c) 15 (d) 4
(b) 25
6 The information collected without any objective are called …………………. 1
(Numbers/Statistics)
Numbers
7 The difference between upper and lower limits of a class is called …………… 1
(Mid Value / Class Interval)
Class Interval
8 The median of the data 5,7,3,2,8 is …………….( 5/ 3) 1
5
9 Assertion (A): Laspeyre index use base year quantity. 1
Reason (R): Passche index use current year quantity.
(b) Both Assertion (A) and Reason (R) are true and Reason (R) is not
the correct explanation of Assertion (A)
10. Assertion (A): In Normal curve mean = median = mode. 1
Reason (R): Normal curve is Symmetric around mean .

(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the
correct explanation of Assertion (A)

11
Calculate Karl Pearson’s coefficient correlation from the following data
X 2 4 6 8 10
Y 5 10 15 20 25

X Y x y x2 y2 xy
2 5 -4 -10 16 100 40
4 10 -2 -5 4 25 10
6 15 0 0 0 0 0
8 20 2 5 4 25 10
10 25 4 10 16 100 40 2
∑X ∑Y ∑x ∑y ∑x2 ∑y2 ∑xy
30 75 0 0 40 250 100

x = ∑X/N =30/5 =6 y = ∑Y/N =75/5=15

∑𝐱𝐲
Coefficient of correlation (r) =
∑𝐱𝟐 √ ∑𝐲𝟐

𝟏𝟎𝟎
=
√𝟒𝟎 √ 𝟐𝟓𝟎

𝟏𝟎𝟎
= 1
√𝟏𝟎𝟎𝟎𝟎

𝟏𝟎𝟎
= 100
= 1 (perfect positive )

OR
Calculate Rank coefficient correlation from the following data
X 20 11 72 65 43 29 50
Y 60 63 26 35 43 51 37
R1 2 1 7 6 4 3 5
R2 6 7 1 2 4 5 3
D -4 -6 6 4 0 -2 2 2
D2 16 36 36 16 0 4 4

HERE , ∑D2 = 112
Rank correlation coefficient = 1 - 6∑D2
N3 – N

=1 - 6(112)
73 -7
=1 - 672/336 1
=1-2
= -1(perfect negative)

12 Find the Fisher Ideal Index Number with the help of following data?

Goods p0 q0 p1 q1 p0q0 p1q0 p1q1 p0q1

A 5 50 7 60 250 350 420 300

B 6 15 8 10 90 120 80 60

C 8 8 11 12 64 88 132 96

D 7 20 10 15 140 200 150 105

544 758 782 561 2

Σ𝑝1𝑞0 Σ𝑝1𝑞1
Fisher Ideal Index = × ×100
Σ𝑝0𝑞0 Σ𝑝0𝑞1
758 782
= × ×100
544 561
= √1.9423 ×100 1
=139.37
13 Define Statistics . Explain its main features.

Statistics-
Statistics are numerical statement of facts in any department of inquiry placed in
relation to each other. 1

Features of Statistics
(a) Statistics are aggregate of facts
(b) Statistics must be numerically expressed. 1
(c) Statistics are collected for a pre-defined purpose 1
(d) Statistics should be collected in a systematic manner. 1
(e) Statistics are placed in relation to each other.

Explain any 3 points and 1 mark for each point
OR
Explain the main limitations of Statistics.

Limitations of Statistics-
(a) Statistics deal with aggregates facts. 1
(b) Statistics deals only with numeric characteristics. 1
(c) Statistical results are true only on an average. 1
1

(d) Statistics is only one of the methods of studying a problem.
(e) Statistics can be misused.
Explain any 4 points and 1 mark for each point
14 Expenditure on food of 30 families in a colony is given below.

115 159 220 233 278 243
256 271 229 170 172 173
184 234 265 298 245 241
144 135 335 234 310 129
220 238 212 238 196 205

(i) Calculate the frequency distribution from the following class interval.
100-150,150-200,200-250,250-300,300-350.

X Tally Bars Frequency
100-150 |||| 4
150-200 |||| | 6
200-250 |||| |||| ||| 13
250-300 |||| 5
300-350 || 2
2
(ii) How many families are spending less than 250 rupees per month and
more than 150 rupees?

families spending less than 250 rupees per month = 4+6+13=23
families spending more than 150 rupees per month = 6+13+5+2=25 2
15 Construct a Pie Diagram with the help of per day expenditure on various food
Items Wheat Pulses Rice Vegetables Milk
Expenditures 35 50 35 40 20
(in rupees)
items of a family.

Items Expenditures Expenditures
(in rupees) (in degree)
Wheat 35 70
Pulses 50 100
Rice 35 70
Vegetables 40 80
Milk 20 40
Total 180 360 2

Milk , 40
Wheat , 70

Vegetables,
80
Pulses, 100

Rice, 70
2

16 What are primary data? Discuss the merit and demerits of any one method of
collecting primary data among various methods.

Primary Data- Primary data means original data that has been collected specially
for the purpose in mind. It means someone collected the data from the original
source first hand. Data collected this way is called primary data. 1

Direct Personal Investigation-
In direct personal investigation, the investigator obtains the first-hand information
from the respondents themselves. He personally visits the respondents to collect 1
the data.

Merits of Direct Personal Investigation-
1. The data collected by this method are original in nature.
2. The data collected by this method are accurate as investigator collects them
personally.
3. The data collected by this method are reliable. 2
4. The data collected by this method are uniform.

Demerits of Direct Personal Investigation-
1. It is very much difficult to cover wide area by this method.
2. In this method personal bias is very much possible, which can make our
result misleading. 2
3. This method is very much costly.

OR
Describe the questionnaire method of collecting primary data .What precautions
must be taken while preparing a questionnaire ?

Questionnaire Method-
A questionnaire is a research tool in which a series of questions are used to collect
useful information from respondents. In this method a well structured 1
questionnaire is distributed among respondents either by mail or post for collecting
information.

Precautions-
1. Simple
2. Less no. of questions
3. Proper order of questions
4. Non – controversial questions
5. No calculation
6. Proper instructions
7. Pre- testing 5
8. Cross verification
9. Request for return

Explain any 5 points and 1 mark for each point.
17 Find out Mean , Median and Mode .

X 0-10 10-20 20-30 30-40 40-50
F 2 4 6 4 2

X F M FM C.F.
0-10 2 5 10 2
10-20 4 f0 15 60 6 cf
20-30 6 f1 25 150 12
30-40 4 f2 35 140 16
40-50 2 45 90 18
Total 18(N) 450

Σ𝑓𝑚
Mean = Σ𝑓 =450/18 = 25
2
𝑁
−𝑐𝑓
Median = 𝑙1 + 2 𝑓 ×𝑖
9−6
= 20 + 6 × 10 2
= 20+5 =25

𝑓1−𝑓0
Mode = 𝑙1 + 2𝑓1−𝑓0−𝑓2 × 𝑖
6−4 2
= 20 + 2(6)−4−4 × 10
= 20+5 = 25

OR

Find out Median and Mode .

Mid value 1 2 3 4 5 6 7
Frequency 3 10 12 20 12 10 3

M F X Cf
1 3 0.5-1.5 3
2 10 1.5-2.5 13
3 12 f0 2.5-3.5 25 cf
4 20 f1 3.5-4.5 45
5 12 f2 4.5-5.5 57
6 10 5.5-6.5 67
7 3 6.5-7.5 70(N)

𝑁
−𝑐𝑓
Median = 𝑙1 + 2 𝑓 ×𝑖
35−25 3
= 3.5 + 20 ×1
= 3.5+0.5= 4

𝑓1−𝑓0
Mode = 𝑙1 + 2𝑓1−𝑓0−𝑓2 × 𝑖
20−12
= 3.5 + 2(20)−12−12 × 1 3
= 3.5+0.5 = 4
SECTION – B INDIAN ECONOMIC DEVELOPMENT

18 Which year is often referred as the “Year of the Great Divide”? 1
(a) 1921 (b) 1920 (c) 1950 (d)1951

(a) 1921
19 Literacy Rate in India as per census survey 2011. 1
(a) 74% (b) 56% (c) 65% (d) 60%

(a)74%
20 In which year NABARD was established ? 1
(a) 1969 (b)1982 (c) 1981 (d) 1991

(b)1982
21 In which country population growth is highest ? 1
(a) India (b) China (c) Pakistan (d) None of these
(c) Pakistan
22 Which of the following item was not exported before independence ? 1
(a) Cotton clothes (b) Tea (c) Jute (d) Engineering goods

(d) Engineering goods

23 NITI Aayog was established in the year ……………..(2015/2016) 1
2015
24 ………………..is the largest producer of rice in the world .(China/India) 1

China
25 First Five Year Plan of India was established in the year………….(1950/1951). 1
1951
26 Assertion (A): FDI in China is higher than India. 1
Reason (R): China is found to be more investment friendly.

(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the
correct explanation of Assertion (A)
27 Assertion (A): Disguised unemployment is found in agriculture. 1
Reason (R): More labours are engaged in agriculture due to joint family system.

(a) Both Assertion (A) and Reason (R) are true and Reason (R) is the
correct explanation of Assertion (A)
28 Discuss the principle causes of the backwardness of Indian economy at the time of
independence.
Causes of the backwardness of Indian economy-
1. India was treated as a colony supplier for raw martial to the British
industry
2. India was used as a market for British products.
3. A destructive approach was used towards the Indian handicraft. 1
4. unfair land revenue policy was used by the British 1
Explain any three and 1 mark for each. 1

OR
Briefly explain the main features of Indian economy at the time of independence.

Main features of Indian economy-
1. Agro based economy
2. Low production and productivity agriculture
3. Limited commercialization of agriculture
4. Illiteracy
5. Lack of basic industry 1
6. Poor infrastructure 1
7. Downfall of cottage and small scale industries 1

Explain any three and 1 mark for each.
29 How human can be converted into human capital ?

Some country think that large population is a liability for them . It is a burden and
obstacle in economic growth of the country. If we can convert our human into
human capital then it will be an assets for the country and a win - win situation for
the economy.
1. Investment in educations 1
2. Improvement in health sector 1
3. Development of skill of people 1

Explain it and 1 mark for each.

30 Explain the concept of sustainable development. What are the main features of
sustainable development?

Sustainable development-
Sustainable development is that process of development which meets the needs
of present generation without reducing the ability of future generation to meet 1
their own needs.
Main Features-
1. Long-term increase in real per capita income and economic welfare. 1
2. Thoughtful use of natural resources. 1
3. There should be no reduction in the ability of future generations to 1
satisfy their needs.
4. Reduction in pollution.

Explain any three and 1 mark for each.

OR
Differentiate between economic development and economic growth.

Difference-
1. Economic development refers to the long-term increase in per capita real
income and economic welfare, while economic growth refers only to the 1
increase in per capita real income.

2. Economic development is used for less developed economies, whereas
economic growth is used for developed economies. 1

3. Economic development does not ignore the distribution of income, while
economic growth ignores the distribution of income. 1

4. Economic development exploits natural resources whereas economic
growth is not responsible for exploitation of natural capital. 1

31 At present unemployment is the main problem in India. According to you what are
the main factors responsible for unemployment?

Main factors responsible for unemployment-
1. Rapid increase in population 1
2. Slow economic growth 1
3. Joint family system. 1
4. Decline of cottage and small scale industries. 1
5. Low mobility of workers.
6. Defective education system.
Explain any four and 1 mark for each.

32 Clarify the meaning and advantages of organic farming .

Organic farming is a sustainable farming system that maintains the long-term
sustainability of the land and uses limited resources to produce high-quality and 1
nutritious food products.

Benefits of organic farming-
1. Organic farmers do not use synthetic chemicals. 1
2. Secondary metabolites found in higher amounts in organic crops which are 1
helpful in fighting disease such as cancer. 1
3. In organic farming, more nutrients are found in the soil.
4. The fertility of organic soil increases with time.

33 “Features of Indian agriculture itself explain the story of its backwardness”.
Put out your view in reference to this statement.

Features of Indian agriculture-
1. Low productivity 1
2. Disguised unemployment 1
3. Subsistence farming 1
4. Tradition inputs 1
5. Small holdings 1
6. Backward technology 1
7. High dependency on rainfall

Explain any six and 1 mark for each.
OR
Describe the failures of economic planning in India.

Failures of Economic Planning
1. Less increase in living standard
2. Rise in prices 1
3. Increase in unemployment 1
4. Less growth in production 1
5. Inequality of distribution of income 1
6. Inefficient administration 1
7. Paradox of saving and investment 1

“Indian plans may be good on paper but are rarely good in implementa-
tion”. So the need of the hour is to formulate a correct economic policy and
implement it properly.

Explain any six and 1 mark for each.
34 What do you mean by economic reforms ? Discuss the need of economic reforms.

Economic Reforms-

The economic policy formulated by the Government of India in 1991 to get the
country out of the economic crisis and to speed up the pace of development is
called economic reform. These reforms are also called the New Economic Policy 1
or LPG.

Need for economic reforms-

1. Increase in Fiscal Deficit 1
2. Rising Unfavorable Balance of Payments 1
3. Gulf Crisis 1

4. Decrease in foreign exchange reserves 1
5. Increase in prices 1
6. Poor performance of public sector enterprise

Explain any five and 1 mark for each.
OR
What you mean by liberalization? Explain the measures adopted for liberalization.

Meaning of liberalization:-
The freedom from direct or physical controls imposed by the government is called
liberalisation. Before 1991, the government had imposed many types of restrictions
on the industries, due to which the progress of the country was getting hampered.
Freedom from these restrictions is called liberalisation. 1

Liberalization measures-
1
1. Abolition of licenses 1
2. Liberalization the MRTP Act 1
3. Freedom for expansion and production 1
4. Increase in investment limit of small scale industries 1
5. Freedom to import capital goods
6. Free determination of interest rate
7. Tax reforms
Explain any five and 1 mark for each.