This quiz works best with JavaScript enabled. Home > Class 11 > Class 11 Economics (Statistics For Economics) Chapter 1 Introduction – Quiz 9 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 9 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following is not a non economic activity? A) Blood donation camp organised for a noble cause. B) Household course by housewife. C) Taking care of children by mother. D) Services provided by a doctor in a hospital. Show Answer Correct Answer: D) Services provided by a doctor in a hospital. 2. Economy may be classified as: A) Capitalist. B) Socialist. C) Mixed. D) All of these. Show Answer Correct Answer: D) All of these. 3. Find the arithmetic mean of:5, 7, 10, 10 and 3. A) 12. B) 8. C) 7. D) 6. Show Answer Correct Answer: C) 7. 4. The right of private property means you can own, use, or dispose of things of value A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 5. One in which economic decisions are based on a society's values, cultures and customs. A) Mixed Economy. B) Traditional Economy. C) Market Economy. D) Command Economy. Show Answer Correct Answer: B) Traditional Economy. 6. A study was carried out to know the crop structure in a village of 200 farms. Of the 50 farms surveyed, 50% grew only wheat. Identify the population and the sample A) Population 50 and sample 200. B) Population 200 and sample 50. C) Population 250 and sample 50. D) Population 250 and sample 150. Show Answer Correct Answer: B) Population 200 and sample 50. 7. Which of the following are considered output units in a computer? A) Floppy Disk, Dat, CD etc. B) Printers. C) Mouse. D) Micro Film. Show Answer Correct Answer: B) Printers. 8. One function of statistics in government planning is: A) Resource allocation and policy decisions. B) Data storage. C) Random guessing. D) None of the above. Show Answer Correct Answer: A) Resource allocation and policy decisions. 9. Refers to the organization of data into tables, graphs and charts. A) Collection of Data. B) Collation of Data. C) Presentation of Data. D) None of the above. Show Answer Correct Answer: C) Presentation of Data. 10. Welfare definition given by ..... ? A) Adam Smith. B) Alfred Marshall. C) Lionel Robbins. D) None of the above. Show Answer Correct Answer: B) Alfred Marshall. 11. Competition among BUYERS generally means: A) Higher product prices and fewer profits for sellers. B) Higher product prices and more profits for sellers. C) Lower product prices and fewer profits for sellers. D) Lower product prices and more profits for sellers. Show Answer Correct Answer: B) Higher product prices and more profits for sellers. 12. What type of economy is also called a free enterprise system? A) Command. B) Market. C) Traditional. D) Mixed. Show Answer Correct Answer: B) Market. 13. When you employ somebody giving them a wage then you are an- A) Employer. B) Employee. C) Service provider. D) Service holder. Show Answer Correct Answer: A) Employer. 14. ..... refers to the quantity of a good or service that businesses are willing and able to provide. A) Demand. B) Supply. C) Market Price. D) None of the above. Show Answer Correct Answer: B) Supply. 15. Statistics helps mainly in: A) Eliminating errors. B) Organizing and interpreting data. C) Avoiding surveys. D) Ignoring variability. Show Answer Correct Answer: B) Organizing and interpreting data. 16. According to the scarcity oriented definition of Economics, Economics is a ..... A) Finance. B) Science. C) Maths. D) None of the above. Show Answer Correct Answer: B) Science. 17. Are the economic resources a nation uses to make goods and supply services for its population A) Factors of buying. B) Factors of selling. C) Factors of production. D) None of the above. Show Answer Correct Answer: C) Factors of production. 18. The basic reason for existence of economic problem is A) Scarcity. B) Exchange. C) Consumption. D) Distribution. Show Answer Correct Answer: A) Scarcity. 19. What term correctly describes the combination of natural, human, and capital resources? A) Scarcity. B) Supply chain. C) Command Economy. D) Entrepreneurship. Show Answer Correct Answer: D) Entrepreneurship. 20. What is class mark x$_{i}$ A) Lower limit + upper limit. B) (Upper limit-Lower limit)/2. C) Upper limit-Lower limit. D) 2(Upper limit-Lower limit). Show Answer Correct Answer: B) (Upper limit-Lower limit)/2. 21. Which of the following is not a function of statistics? A) Data collection. B) Data analysis. C) Data misinterpretation. D) Data presentation. Show Answer Correct Answer: C) Data misinterpretation. 22. A histogram is used for: A) Qualitative data. B) Discrete data only. C) Continuous data. D) Nominal data. Show Answer Correct Answer: C) Continuous data. 23. What is the role of 'demand' in economics? A) It determines the supply of goods. B) It influences the price of goods. C) It has no effect on the market. D) It is unrelated to consumer behavior. Show Answer Correct Answer: B) It influences the price of goods. 24. The study of how people seek ways to meet their wants and needs by making choices is called? A) Economics. B) Scarcity. C) Capitalism. D) Entrepreneurs. Show Answer Correct Answer: A) Economics. 25. Scarcity defines the concept of having ..... wants and ..... resources. A) Reasonable; unlimited. B) Finite; infinite. C) Limited; reasonable. D) Unlimited; limited. Show Answer Correct Answer: D) Unlimited; limited. ← 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 4Class 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 10Class 11 Economics (Statistics For Economics) Chapter 1 Introduction Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books