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CBSE · Class 11 · Social Science

Introduction to Economics and Statistics

Standard difficulty · 20 questions · 40 marks · Time: 37 minutes

Name: Date: Score: ____ / 40

Write full answers in Sections B and C. Answers are on the last page — try every question first!

Section A — Choose the correct answer8 × 1 = 8 marks
1.
A person who buys goods to satisfy wants is called a:
  1. seller
  2. employer
  3. producer
  4. consumer
2.
In economics, a trader selling grain in a mandi is acting as a:
  1. employer
  2. employee
  3. seller
  4. producer
3.
Which of these gives qualitative data?
  1. the age of a worker in years
  2. marks in an economics test
  3. the price of rice in a market
  4. the honesty of a shopkeeper
4.
What is meant by “GDP”?
  1. the total value of what is produced in a country in a year
  2. how national income is shared as wages, profits and interest
  3. attributes that cannot be measured in numbers
  4. a person who produces goods or provides services
5.
The monthly incomes of 7 workers are ₹28,500, ₹21,000, ₹25,000, ₹7,000, ₹28,000, ₹15,500, ₹8,000. Statistics sums them up in one figure, the average. What is it?
  1. ₹19,000
  2. ₹133,000
  3. ₹28,500
  4. ₹19,500
6.
Asha has ₹840 of pocket money, so not every want can be met. A notebook costs ₹130 and a ticket to a fair ₹230. After buying 3 notebooks, how many tickets can Asha buy at most?
  1. 1 tickets
  2. 0 tickets
  3. 2 tickets
  4. 3 tickets
7.
Suppose a country’s income of ₹12,800 crore is distributed as 40% wages, 30% profits and the rest as interest. How much goes as interest?
  1. ₹7,680 crore
  2. ₹5,120 crore
  3. ₹3,840 crore
  4. ₹3,940 crore
8.
Which of these questions belongs to the study of distribution?
  1. What share of income goes to workers as wages?
  2. What and how much should a farmer grow this season?
  3. How many shirts should a firm make for the market?
  4. How much of each good do households buy each month?
Section B — Short answer8 × 2 = 16 marks
9.
What is meant by scarcity?
10.
Write “quantitative” or “qualitative” for the data each gives: (a) a worker’s skill: unskilled, skilled or highly skilled (b) a student’s learning skills: weak, average or good
11.
Is each a consumer, seller, producer, employee or employer? (a) a family buying vegetables for its meals (b) a contractor who hires and pays construction workers
12.
Explain each term: (a) producer (b) consumer
13.
Is each a question of consumption, production or distribution? (a) How does a family decide what to buy with its income? (b) What happens to a buyer’s choices when prices rise?
14.
Four people in a group earn ₹9,500 a month each and one earns ₹295,000. What is their average income, and does it describe the typical member well?
15.
Zoya has ₹288. A book costs ₹80 and a pen ₹25. If Zoya buys 2 books, how much money is left, and how many pens can be bought with it?
16.
Suppose a country’s income is ₹25,300 crore: 55% is paid as wages, 25% as profits and the rest as interest. Find each amount.
Section C — Longer answers4 × 4 = 16 marks
17.
Explain the relationship between economics and statistics.
18.
Match each with its meaning: (a) distribution (b) policy (c) statistics. Choose from: how national income is shared as wages, profits and interest; collecting, presenting, analysing and interpreting numerical data; a measure taken to solve an economic problem.
19.
The monthly incomes of six households are ₹4,000, ₹5,000, ₹8,500, ₹18,500, ₹19,500, ₹16,500. (a) What is their total? (b) What is the average income? (c) How many households earn more than the average? (d) Why is one average easier to use than six figures?
20.
A farmer has 5 acres. Wheat would yield 16 quintals an acre at ₹2,700 a quintal; cotton 13 quintals an acre at ₹7,100 a quintal. (a) What would each crop earn? (b) Which crop earns more? (c) Why must the farmer choose?
AmbifulWorksheets
Practice that never repeats
CBSE · Class 11 · Social Science

Answer key

Introduction to Economics and Statistics · AW-11SS-EIN-2026-V1 · For parents — fold back or tear off before handing the sheet to your child.

QAnswerWorking
1(d) consumer—
2(c) seller—
3(d) the honesty of a shopkeeper—
4(a) the total value of what is produced in a country in a year—
5(a) ₹19,000133,000 ÷ 7 = 19,000
6(a) 1 tickets(840 − 3 × 130) ÷ 230 = 450 ÷ 230, which gives 1 whole tickets
7(c) ₹3,840 crore30% of 12,800
8(a) What share of income goes to workers as wages?—
9Wants are unlimited but the resources to satisfy them are limited.—
10(a) qualitative (b) qualitative—
11(a) consumer (b) employer—
12(a) a person who produces goods or provides services (b) a person who buys goods to satisfy wants—
13(a) consumption (b) consumption—
14₹66,600; no, one high income pulls the average far above what four of the five earn.(4 × 9,500 + 295,000) ÷ 5
15₹128; 5 pens288 − 2 × 80 = 128; 128 ÷ 25
16wages ₹13,915 crore, profits ₹6,325 crore, interest ₹5,060 crore55%, 25% and 20% of 25,300
17Economics needs facts to analyse problems and frame policies; statistics collects, organises and summarises those facts, so no analysis or policy is possible without it.—
18(a) how national income is shared as wages, profits and interest (b) a measure taken to solve an economic problem (c) collecting, presenting, analysing and interpreting numerical data—
19(a) ₹72,000 (b) ₹12,000 (c) 3 (d) Statistics condenses many figures into one that is easy to remember and compare.72,000 ÷ 6
20(a) wheat ₹216,000, cotton ₹461,500 (b) cotton (c) The same land has alternative uses but is limited, so growing one crop means giving up the other.5 × 16 × 2,700; 5 × 13 × 7,100