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MCQ’S TEST
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CLASS 11 ECONOMICS STATISTICS LESSON 1 INTRODUCTION TO STATISTICS OBJECTIVE QUESTIONS MCQ’S TEST
1. It deals with the collection, presentation, analysis and interpretation of quantitative information. This statement defines
Both
None
statistics in plural sense
statistics in singular sense
Answer - D
Explanation - The word statistics is used both as singular and plural . As singular , it stands for collection, presentation ,analysis and interpretation of data whereas as plural it means numerical facts collected for a specific purpose.
2. A person who buys goods and services for the satisfaction of human wants
Merchant
Producer
Consumer
Service holder
Answer - C
Explanation - He doesn't require goods and services for manufacture or resale , but for satisfying wants only.
3. Service holder is
A person who buys goods and services for the satisfaction of human wants
A person who produces goods
A person who gives services to others for a payment
A person who is working or in a job and gets paid for it
Answer - D
Explanation - A service holder takes his service and works under it as an employee.
4. Economics is divided into three parts
Consumption, Production and Data collection
Consumption, Capital and Data collection
Conserve, Product and Distribution
Consumption, Production and Distribution
Answer - D
Explanation - A good or service is firstly produced then distributed and ultimately consumed. Moreover
5. Which of the following is not the character of statistics in plural form
Aggregate of facts
Collected in a systematic manner
Numerically expressed
Collection of data
Answer - D
Explanation - The singular statistics is the science of collection, presentation, analysis and interpretation of data .
6. Arrange stages in a statistical investigation
(a) Collection of data
(b) Analysis of data
(c) Presentation of data
(d) Organization of data
(e) Interpretation of data.
a,d,c,b,e
a,c,d,b,e
a,e,b,d,c
c,a,d,b,e
Answer - A
Explanation - Data are collected then organised then presented then analysed and finally interpreted or concluded. This is a logical series of steps.
7. Identify non-economic activity
Buying and selling of goods
Distribution of goods as charity
Production of goods
None
Answer - B
Explanation - A non economic activity is undertaken without taking into account any monetary reward.
8. It is a process which is concerned with sale and purchase of commodities
Exchange
Distribution
Production
Investment
Answer - A
Explanation - It's as per the definition of exchange in economics.
9. Economics that deals with economic problems as a whole are called
None
Micro economics
Both
Macro economics
Answer - D
Explanation - Macroeconomics deals with aggregates only and describes economic problems for the whole economy .
10. Production is
None
Both
The process of using up utility value of goods and services for the direct satisfaction of our wants
Process of converting raw material into useful things
Answer - D
Explanation - Production refers to conversion of raw materials into finished goods.
11. It is the part of income which is not consumed
Consumption
Saving
Production
Interest
Answer - B
Explanation - Having satisfied their wants with money, consumers save a part of their income.
12. The study of mankind in the ordinary business of life
Econometric
Economics
Environment
Economy
Answer - B
Explanation - The phrase 'business of life ' implies all the three aspects of economics : production , distribution and consumption .This definition was given by Alfred Marshall.
13. The activity which is related to the use of scarce resources
None
None economic activity
Both
Economic activity
Answer - D
Explanation - The source of all economic problems is scarcity of resources.
14. Following are the non economic activities except
Social activities
Charitable activities
Parental activities
Distribution activities
Answer - D
Explanation - Distribution is done taking into regard monetary gains.
15. Non economic activities are
Concerned with investment
Concerned with money
Not concerned with money
None
Answer - C
Explanation - Non economic activity is undertaken without taking into account monetary reward.
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