NEB Class 11 · Past paper
The complete NEB Class 11 2075 exam paper for Economics, all 24 questions with solved model answers.
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Explain the law of demand. When price decreases demand increases, why?
Law of demand: Other things remaining the same (ceteris paribus), when the price of a commodity falls its quantity demanded rises, and when the price rises its quantity demanded falls. Thus there is an inverse relationship between price ...
Explain the features of labour. (Or: Explain the features of Robbins' definition of economics.)
Features of labour (labour = any physical or mental human effort undertaken for economic reward): - Inseparable from the labourer: the worker and his labour cannot be separated. - Perishable: unused labour of a day is lost forever; it ca...
Write any four criticism of Marshall's definition of economics.
Marshall defined economics as the study of mankind in the ordinary business of life, concerned with material welfare. Four criticisms: - It is limited to material welfare only and ignores immaterial (services) welfare. - The concept of w...
Write any two differences between positive and normative economics.
Basis Positive economics Normative economics --------- Meaning Studies "what is" - facts and cause-effect relations as they are. Studies "what ought to be" - value judgements about what is desirable. Nature Objective and verifiable by fa...
Write any four features of capital.
Four features of capital: - It is a man-made (produced) factor of production, not a free gift of nature. - It is passive: it cannot produce by itself without labour. - It is the result of saving and investment. - It is durable and mobile...
What is Gross National Product?
Gross National Product (GNP) is the total money value of all final goods and services produced by the normal residents (nationals) of a country during one year, whether they are within the country or abroad. It equals GDP plus net factor...
What is increase in supply?
Increase in supply means that more quantity is supplied at the same price due to favourable changes in factors other than the commodity's own price (such as improved technology, fall in input prices, or subsidies). It shifts the whole su...
Explain the types of unemployment.
Unemployment is a situation in which people who are willing and able to work at the prevailing wage cannot find work. Main types:
In Nepal, disguised unemployment, seasonal and underemployment are especially widespread.
Explain the process of capital formation.
Capital formation is the process of increasing the stock of real capital (machines, tools, buildings) in an economy. It takes place in three stages: - Creation of savings: individuals, firms and government save part of their income by no...
Discuss the measures of poverty reduction in Nepal.
Measures to reduce poverty in Nepal: - Increasing production and productivity in agriculture and industry. - Generating employment through labour-intensive industries, self-employment and skill training. - Controlling population growth. ...
Explain the importance of human resource in economic development of Nepal.
Human resource means the working population with its knowledge, skill and health. Its importance for Nepal's development: - Active factor of production: human resource uses all other resources (land, capital) to produce goods and service...
Describe the objectives and strategies of current plan of Nepal.
Nepal's periodic plans, prepared by the National Planning Commission, aim at rapid, sustainable and inclusive development. The typical objectives of the current plan are: - High and sustainable economic growth and rise in per capita inco...
Explain the importance of foreign employment in economic development of Nepal.
Foreign employment means Nepalese workers going abroad for work. Its importance: - Remittance income: it is a major source of foreign exchange and supports the balance of payments. - Poverty reduction: remittance raises household income ...
Explain the role of water resource in economic development of Nepal.
Nepal is very rich in water resources (rivers, lakes, groundwater) with high hydropower potential. Its role in development: - Hydroelectricity: water is the main source of clean, cheap electricity needed for industry and households. - Ir...
Explain the causes of deforestation.
Deforestation is the large-scale destruction/clearing of forests. Main causes in Nepal: - Population growth raising demand for land and forest products. - Encroachment of forest land for settlement and agriculture. - Excessive use of fue...
Explain the features of Nepalese Agriculture.
Features of Nepalese agriculture: - Subsistence nature: production is mainly for family consumption. - Monsoon-dependent: limited irrigation makes farming rain-dependent. - Traditional tools and techniques with little modern input. - Low...
Describe the importance of medium and large scale industry in Nepal.
Medium and large scale industries use relatively large capital, machinery and labour. Their importance for Nepal: - Large-scale production of goods, reducing imports (import substitution). - Employment generation for a large number of wo...
Describe the problems of transportation in Nepal.
Problems of transportation in Nepal: - Difficult geography: mountains, hills and rivers make road building costly and hard. - Inadequate road network, with many areas still unconnected. - Poor quality and maintenance of existing roads. -...
Explain the need of quantitative analysis in economics.
Quantitative analysis means the use of mathematical and statistical tools (numbers, functions, equations, averages, index numbers, etc.) to study economic problems. Its need in economics: - Precise expression of relationships: economic r...
Calculate mean.
| Wage | 0-100 | 100-200 | 200-300 | 300-400 | 400-500 |
|---|---|---|---|---|---|
| No. of workers | 4 | 12 | 16 | 10 | 8 |
Given: A continuous frequency distribution. Take mid-value $m$ of each class. $$\bar{x} = \frac{\sum fm}{N}$$ Computation table: Class $m$ $f$ $fm$ ------------ 0-100 50 4 200 100-200 150 12 1800 200-300 250 16 4000 300-400 350 10 3500 4...
Calculate quartile deviation.
| Marks | 50 | 60 | 70 | 80 | 90 |
|---|---|---|---|---|---|
| No. of students | 2 | 4 | 8 | 4 | 1 |
Given: A discrete series. First find cumulative frequencies (c.f.). Marks $f$ c.f. --------- 50 2 2 60 4 6 70 8 14 80 4 18 90 1 19 $$N = 19$$ First quartile $Q1$: size of $$ \begin{aligned} \dfrac{N+1}{4} &= \dfrac{20}{4} \ &= 5^{th} \e...
Find the equilibrium price and quantity from the given demand and supply functions.
$$ \begin{aligned} Q_d &= 400 - 4p \quad \text{and} \quad Q_s \ &= 6p - 10 \end{aligned} $$
Given: Demand $Q_d = 400 - 4p$ and Supply $Q_s = 6p - 10$.
At equilibrium, quantity demanded = quantity supplied: $$ \begin{aligned} Q_d &= Q_s \ 400 - 4p &= 6p - 10\ 400 + 10 &= 6p + 4p\ 410 &= 10p\ p &= 41 \end{aligned} $$
Equilibrium quantity (substitute $p = 41$): $$ \begin{aligned} Q_d &= 400 - 4(41) \ &= 400 - 164 \ &= 236 \end{aligned} $$
Check with supply:
$$ \begin{aligned} Q_s &= 6(41) - 10 \ &= 246 - 10 \ &= 236 \end{aligned} $$
Verified.
Answer: Equilibrium price $p = 41$ and equilibrium quantity $Q = 236$.
Find the equation of a line joining the points (2, 2) and (-2, 5).
Given: Two points $(x1, y1) = (2, 2)$ and $(x2, y2) = (-2, 5)$. Slope: $$ \begin{aligned} m &= \frac{y2 - y1}{x2 - x1} \ &= \frac{5 - 2}{-2 - 2} \ &= \frac{3}{-4} \ &= -\frac{3}{4} \end{aligned} $$ Equation using point-slope form
Solve by using matrix method.
$$ \begin{aligned} 3x + 5y &= 25 \ 2x + 3y &= 16 \end{aligned} $$
Given: In matrix form $AX = B$: $$A = \begin{bmatrix} 3 & 5 \ 2 & 3 \end{bmatrix}, \quad B = \begin{bmatrix} 25 \ 16 \end{bmatrix} $$
Determinant: $$ \begin{aligned} |A| &= (3)(3) - (5)(2) \ &= 9 - 10 \ &= -1 \end{aligned} $$
Since $|A| \neq 0$, using Cramer's rule: $$ \begin{aligned} x &= \frac{1}{|A|}\begin{vmatrix} 25 & 5 \ 16 & 3 \end{vmatrix} \ &= \frac{(25)(3) - (5)(16)}{-1} \ &= \frac{75 - 80}{-1} \ &= \frac{-5}{-1} \ &= 5 \ y &= \frac{1}{|A|}\begin{vmatrix} 3 & 25 \ 2 & 16 \end{vmatrix} \ &= \frac{(3)(16) - (25)(2)}{-1} \ &= \frac{48 - 50}{-1} \ &= \frac{-2}{-1} \ &= 2 \end{aligned} $$
Answer: $x = 5, ; y = 2$. Check: $3(5) + 5(2) = 25$ and $2(5) + 3(2) = 16$. Verified.
Given: A continuous frequency distribution. Take mid-value of each class. Computation table: Class ------------ 0-100 50 4 200 100-200 150 12 1800 200-300 250 16 4000 300-400 350 10 3500 4...
Given: A discrete series. First find cumulative frequencies (c.f.). Marks c.f. --------- 50 2 2 60 4 6 70 8 14 80 4 18 90 1 19 First quartile : size of $$ \begin{aligned} \dfrac{N+1}{4} &= \dfrac{20}{4} \ &= 5^{th} \e...
Find the equilibrium price and quantity from the given demand and supply functions.
Given: Demand and Supply .
At equilibrium, quantity demanded = quantity supplied:
Equilibrium quantity (substitute ):
Check with supply:
Verified.
Answer: Equilibrium price and equilibrium quantity .
Given: Two points and . Slope: Equation using point-slope form
Solve by using matrix method.
Given: In matrix form :
Determinant:
Since , using Cramer's rule:
Answer: . Check: and . Verified.