Test: Introduction To Statistics - 1

Test: Introduction To Statistics - 1

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10 Questions MCQ Test Economics Class 11 | Test: Introduction To Statistics - 1

Test: Introduction To Statistics - 1 for Commerce 2023 is part of Economics Class 11 preparation. The Test: Introduction To Statistics - 1 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Introduction To Statistics - 1 MCQs are made for Commerce 2023 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Introduction To Statistics - 1 below.
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Test: Introduction To Statistics - 1 - Question 1

Identify the correct statement.

Detailed Solution for Test: Introduction To Statistics - 1 - Question 1

Explanation : All the statements are correct.

Statistics in economics deals with numbers and is quantitative. Qualitative adjectives like rich, poor, tall etc. have no attached significance in the statistical universe.

Statistics provides tools which are used to predict future value

Statistics only deals with quantitative data it does not deal well with qualitative data beauty, honesty, goodwill etc can’t be measured.

Statistics is an indispensable tool for studying and understanding the economic problems of a country.It helps in analysing economic problems such as production, consumption, pricing, income distribution, population, unemployment and poverty.

Test: Introduction To Statistics - 1 - Question 2

There should be free education provided to poor. It is an example of

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There should be free education given to poor. It is an example of normative science as it deals with what should be.

Test: Introduction To Statistics - 1 - Question 3

Persons doing a particular job are called

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In a job, we work for some other person and are paid for our services. Thus, persons engaged in a particular job are called service holders.

Test: Introduction To Statistics - 1 - Question 4

The process of buying goods by consumers to satisfy their various needs is

Detailed Solution for Test: Introduction To Statistics - 1 - Question 4
• Consumption, defined as spending for acquisition of utility, is a major concept in economics and is also studied in many other social sciences.
• It is seen in contrast to investing, which is spending for acquisition of future income.
• Consumption, in economics, the use of goods and services by households.
• Consumption is distinct from consumption expenditure, which is the purchase of goods and services for use by households.
Test: Introduction To Statistics - 1 - Question 5

Which of the following is not a manifestations of scarcity?

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The examples of scarcity are long queues at railway booking counters, crowded buses and trains, shortage of essential commodities etc.

Test: Introduction To Statistics - 1 - Question 6

In singular sense statistics is

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In singular sense the term statistics means statistical methods. Statistics is an applied science in singular sense.

Test: Introduction To Statistics - 1 - Question 7

Qualitative expressions are outside the scope of statistics unless they are expressed in

Detailed Solution for Test: Introduction To Statistics - 1 - Question 7

Beauty, intelligence, etc. are example of qualitative data which are outside the scope of statistics.

Test: Introduction To Statistics - 1 - Question 8

Match the column I and II and choose the correct pair of statements:

Detailed Solution for Test: Introduction To Statistics - 1 - Question 8

A farmer is a person engaged in agriculture, raising living organisms for food or raw materials.So he is a producer .

A shopkeeper is an individual who owns or runs a shop.A shopkeeper sells some items. So he is a seller.

A service holder is a person who takes service or  that he is working under someone. This means employee and the service provider is the person who gives job(employer). So service holder is employee.

A service provider is a company that provides organizations with consulting, legal, real estate, education, communications, storage, processing, transport, and many other services. So the service provider is the cab driver.

Test: Introduction To Statistics - 1 - Question 9

People engaged in adding value to the matter are called

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A producer produces goods for consumption. The process of adding value to a matter is known as production.

Test: Introduction To Statistics - 1 - Question 10

Select the incorrect statement with regard to the study of economics.

Detailed Solution for Test: Introduction To Statistics - 1 - Question 10

Economics is generally discussed in three parts: consumption, production and distribution.

Economics Class 11

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Economics Class 11

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