This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Economics (Statistics For Economics) Chapter 1 Introduction – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 4 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is a method of collecting secondary data A) Direct personal research. B) Indirect Direct Research. C) Information collection through questionnaire. D) None of these. Show Answer Correct Answer: D) None of these. 2. Service provider is a person who- A) Consume services. B) Provide services. C) Consume goods. D) Produce goods. Show Answer Correct Answer: B) Provide services. 3. Area under the normal distribution curve equals: A) 0. B) 0.5. C) 1. D) Infinity. Show Answer Correct Answer: C) 1. 4. Statistics involves data representation A) No. B) Yes. C) Maybe. D) Impossible. Show Answer Correct Answer: B) Yes. 5. Man-made resources used in the production process i.e. machines in a factory. A) Labor. B) Capital. C) Household. D) Revenue. Show Answer Correct Answer: B) Capital. 6. Tell if the statement if Descriptive or InferentialFrom a past study, it was found that 56% of women are the primary investors in their households. A) Inferential. B) Descriptive. C) All the above. D) None of the above. Show Answer Correct Answer: B) Descriptive. 7. A ..... is a person that makes or grows items or provides a service to others. They have something to sell. A) Buyer. B) Consumer. C) Producer. D) None of the above. Show Answer Correct Answer: C) Producer. 8. Range = Largest Value-Smallest Value3, 4, 5, 7, 3, 8, 9, 12 A) 12. B) 9. C) 8. D) None of the above. Show Answer Correct Answer: B) 9. 9. Which of the following is not the part of the subject matter of Business statistics? A) Appointment. B) Presentation of data. C) Analysis of data. D) Interpretation of data. Show Answer Correct Answer: A) Appointment. 10. Which of the following is the tool of measure of the variation of the items? A) Mode. B) Mean. C) Hypothesis. D) Dispersion. Show Answer Correct Answer: D) Dispersion. 11. Which one of the following is a relative measure of dispersion? A) Standard deviation. B) Variance. C) Co-efficient of variation. D) None of the above. Show Answer Correct Answer: C) Co-efficient of variation. 12. A plush toy is a ..... A) Good. B) Service. C) Income. D) None of the above. Show Answer Correct Answer: A) Good. 13. What are Fixed Costs? A) Costs that are associated with variable expenses. B) Costs that vary with production levels. C) Costs that remain constant regardless of production. D) Costs that are incurred only during peak seasons. Show Answer Correct Answer: C) Costs that remain constant regardless of production. 14. Descriptive statistics A) Use data from a sample to answer questions about population. B) Allow you to generalize beyond the data at hand. C) Summarize and describe data. D) None of the above. Show Answer Correct Answer: C) Summarize and describe data. 15. Arifa lives in country that really values art and culture. People live in harmony with each other. Government has introduced many schemes funded by public and private enterprise. The companies make a lot of profit. But they also ensure to use the profit made for social welfare schemes. People are happy to live here. A) MIXED ECONOMY. B) TRADITIONAL ECONOMY. C) SOCIALIST ECONOMY. D) None of the above. Show Answer Correct Answer: C) SOCIALIST ECONOMY. 16. The average value of a grouped data can be found by the central tendency ..... A) Mode. B) Median. C) Mean. D) Class mark. Show Answer Correct Answer: C) Mean. 17. Determine whether the given situation is Descriptive or Inferential Statistics.Situation:Update on Internet restoration in your area A) Descriptive Statistics. B) Inferential Statistics. C) All the above. D) None of the above. Show Answer Correct Answer: A) Descriptive Statistics. 18. A sample that represents the entire population fairly is called: A) Random sample. B) Biased sample. C) Convenient sample. D) Judgment sample. Show Answer Correct Answer: A) Random sample. 19. The purpose of descriptive statistics is to A) Make decision. B) Make estimation. C) Describe data. D) Make hypothesis testing. Show Answer Correct Answer: C) Describe data. 20. Which type of economic system has the highest level of government control? A) Traditional economy. B) Market economy. C) Command economy. D) Mixed economy. Show Answer Correct Answer: C) Command economy. 21. What is the primary focus of economics? A) The study of market trends. B) The study of government policies. C) The study of choices made when resources are limited. D) The study of wealth distribution. Show Answer Correct Answer: C) The study of choices made when resources are limited. 22. How does statistics help in economic planning? A) Helps to make best use of national resources. B) Helps compare development of various countries. C) All of these. D) None of these. Show Answer Correct Answer: C) All of these. 23. What is a mixed market economy? A) Individual and businesses own the resources used to produce goods and services. B) A market economy that has elements of command and tradition. C) Decide what will produced, for example whether the society will produce machines or consumers goods. D) None of the above. Show Answer Correct Answer: B) A market economy that has elements of command and tradition. 24. This was a worldwide initiative wherein SEEA has been expected to be a key component of the measurement framework of the new biodiversity targets that was expected to be adopted in the late 2020. A) Strategic Plan for Biodiversity 2011-2020 and the AICHI Targets. B) The Economics of Ecosystems and Biodiversity (TEEB). C) Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development. D) Beyond GDP initiative. Show Answer Correct Answer: A) Strategic Plan for Biodiversity 2011-2020 and the AICHI Targets. 25. Primary sector production is concerned with A) The manufacturing of goods. B) The provision of services. C) The construction of buildings. D) The extraction of natural resources. Show Answer Correct Answer: D) The extraction of natural resources. ← PreviousNext →Related QuizzesClass 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 1Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 2Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 3Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 5Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 6Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 7Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 8Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 9Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 10Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books