Economics worksheet Introduction Class 12/11

Chapter 1 Introduction 

For class 11 and Class 12

Q1 Classify the following topics as micro economics and macro economics
Also state the reason for the same

1. Jolly decision about how much income to save
2. The impact of decrease in national savings on the country economic growth
3. The impact of an increase in the price of SIM cards on the market for mobiles
4. The impact of increase in government purchase on the unemployment rate
5. The decision by KFC to hire fewer workers because of increase in minimum wages

Q2 Classify each of the following statements as positive or normate statement

1. An increase in inflation temporarily reduces unemployment 
2. The government should increase the rate of inflation in order to reduce unemployment rate
3. The government should increase taxes to pay for universal health care
4. An increase in taxes causes people to work for fewer hours
5. The price of a new car is too high

Q3 Suppose Indians decide to save more of their income . If banks lend this extra saving to business, which use the funds to build new technology, how might this effect the PPC

Q4 Describe some of the choices faced by each of the following

1. A family deciding whether to buy a new car
2. A member of parliament deciding how much to spend on national park
3. A company president deciding whether to open a new factory
4. A teacher deciding how much to prepare for Class
5. A recent school student deciding whether to go college

Q6 Jolly can read 20 pages of economics in an hour . He can also read 50 pages of sociology in an hour . He spends 6 hours per day studying 

Draw jolly production possibility curve