MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

Draw a histogram from the following data.

Marks	Number of Students
10-20	5
20-30	10
30-40	12
40-60	28
60-80	20
80-110	24

Find the mean deviation and its coefficient from the given data.

Class lnterval	Frequency (f)
17.5-22.5	2
22.5-27.5	4
27.5-32.5	6
32.5-37.5	8
37.5-42.5	6
42.5-47.5	4
47.5-52.5	2
52.5-57.5	2

Percentage distribution of export of India is given below. Construct a pie diagram using this data.

Commodity Group	Export (in %)
Agriculture	17.3
Minerals	2.6
Manufactured goods	77.8
Petroleum products	0.3
Others	2.0
Total	100

Given the following data:

Year	CPI of industrial workers (1982 = 100)	CPI of agricultural labourers (1986–87 = 100)	WP (1993–94=100)
1995-96	313	234	121.6
1996-97	342	256	127.2
1997-98	366	264	132.8
1998-99	414	293	140.7
1999-00	428	306	145.3
2000–01	444	306	155.7
2001–02	463	309	161.3
2002–03	482	319	166.8
2003–04	500	331	175.9

Source: Economic Survey, 2004–2005, Government of India:

1. Comment on the relative values of the index numbers.
2. Are they comparable?

Explain with the help of diagrams, the effect of the following changes on the demand for a commodity:
(i) A rise in the price of substitute good.
(ii) A rise in the price of complementary good.

Direction Analyse the following case study graphs and answer questions (i) to (v) on the basis of the same.

1. According to figure one, value of median is equal to .........

1. 15
2. 20
3. 30
4. 40

2. Median can be located graphically using which of the following?

1. Less than ogive.
2. More than ogive.
3. Both less than ogive and more than ogive together.
4. All of the above.

3. Which form of graphical presentation is used to locate mode?

1. Histogram
2. Bar graphs
3. Cumulative curves
4. Arithmetic line graphs

4. According to figure two, the approxi- mate value of mode is equal to .........

1. 25
2. 35
3. 45
4. Can't be determined

5. What will be the mean value in case 1?

1. 10
2. 15
3. 25
4. None of the above

What is a statistical series? Explain different types of statistical series on the basis of character.

Explain various functions of statistics.

What are the characteristics of a perfectly competitive market? Explain.

Discuss merits, demerits and uses of range.