Statistics for Economics- Assertion-Reason & Case Based Questions Notes | Study Economics Class 11 - Commerce

Commerce: Statistics for Economics- Assertion-Reason & Case Based Questions Notes | Study Economics Class 11 - Commerce

The document Statistics for Economics- Assertion-Reason & Case Based Questions Notes | Study Economics Class 11 - Commerce is a part of the Commerce Course Economics Class 11.
All you need of Commerce at this link: Commerce

Directions: In the following questions a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as :

Question 1: 
Assertion (A): Mohit gets a raise in his salary by 10% as he was a hard-working person and was an employee of the week for three months straight.
Reason (R): The raise in the salary is a part of the consumption for Mohit.
(a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.

Correct Answer is Option (a)
Assertion (A) is true, but Reason (R) is false.


Directions: In the following questions a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as :
Question 2:
Assertion (A): Housewife working in the house is termed as Non-economic activity.
Reason (R): There is no monetary gain or salary paid to the housewife for working in the house.
(a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.

Correct Answer is Option (a)
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).


Directions: In the following questions a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as :
Question 3:
Assertion (A): Arun purchased a car from the Bharat Automobiles.
Reason (R): Arun is a consumer as he was the reason of the economic activity performed
(a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.

Correct Answer is Option (b)
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).


Directions: In the following questions a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as :
Question 4:
Assertion (A): Statistics cannot calculate the qualitative aspects of economics.
Reason (R): Qualitative aspects are the aspects that influence the working of an economy, though cannot be expressed in terms of money.
(a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.

Correct Answer is Option (b)
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).


Directions: In the following questions a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as :
Question 5:
Assertion (A): Rajiv scored 57 in Mathematics, Ravi scored 98 in Statistics, Anita Scored 45 in Economics. The given data is statistical data.
Reason (R): The statistical data needs to be numerical in nature.
(a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.

Correct Answer is Option (d)
Assertion (A) is false, but Reason (R) is true.


Directions: In the following questions a statement of assertion (A) is followed by a statement of reason (R). Mark the correct choice as :
Question 6:
Assertion (A): 100, 95, 48, 86, 35, 65, 90, 54, 65, 98 are the scores of a class of 10 students in Statistics. This is an example of statistical data.
Reason (R): The statistical data are expressed in numbers and have to have some homogeneity.
(a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(b) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(c) Assertion (A) is true, but Reason (R) is false.
(d) Assertion (A) is false, but Reason (R) is true.

Correct Answer is Option (a)
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).


Multiple Choice Questions:
Question 7:
Which of the following statements is true about the significance of Economics?
(a) Economics helps in the study of the laws of motion.
(b) Economics helps in the study of man and environment.
(c) Economics helps in solving the problem of distribution.
(d) Economics helps in saving the mankind.

Correct Answer is Option (c)
Economics helps in solving the problem of distribution.


Case Based Questions:
Read the following passage and answer the questions that follow: 
Activities involved in production (manufacturing), distribution (transportation) and consumption (retail) are constantly seeking economies to improve their competitiveness and increase their market share. The consumption of goods and services is a primary component of economic well-being and, as such, a primary indicator of living standards. Wealth and income are available to support consumption, today and in the future. Production, in the market and at home, supports consumption.

Economies of transportation relate to the benefits that lower transport costs may grant to specific activity sectors and are derived from a locational choice. For production, it relates to a location that minimizes total transport costs and thus lowers production unit costs. Some are elements of transport costs in production while others are elements of transport costs in consumption.

Economies of scope relate to the benefits derived by expanding the range of goods and services. For production, they are commonly based on product diversification and flexible manufacturing systems able to produce a variety of products in view of changes in the demand and consumer preferences.

For distribution, economies of scope are very important and commonly achieved when a transporter is able to bundle several different loads into fewer loads. For consumption, activities offering a wider range of goods or services are usually able to attract more customers since they have more choices. Economies of scale and economies of scope are highly related.
State whether the given statement is true or false:

Question 8:
Establishing a dairy for producing milk products for consumers which turns to be a method of earning wealth is an example of economic activity.
(a) True
(b) False

Correct Answer is Option (a)


Read the following passage and answer the questions that follow: 
Activities involved in production (manufacturing), distribution (transportation) and consumption (retail) are constantly seeking economies to improve their competitiveness and increase their market share. The consumption of goods and services is a primary component of economic well-being and, as such, a primary indicator of living standards. Wealth and income are available to support consumption, today and in the future. Production, in the market and at home, supports consumption.

Economies of transportation relate to the benefits that lower transport costs may grant to specific activity sectors and are derived from a locational choice. For production, it relates to a location that minimizes total transport costs and thus lowers production unit costs. Some are elements of transport costs in production while others are elements of transport costs in consumption.

Economies of scope relate to the benefits derived by expanding the range of goods and services. For production, they are commonly based on product diversification and flexible manufacturing systems able to produce a variety of products in view of changes in the demand and consumer preferences.

For distribution, economies of scope are very important and commonly achieved when a transporter is able to bundle several different loads into fewer loads. For consumption, activities offering a wider range of goods or services are usually able to attract more customers since they have more choices. Economies of scale and economies of scope are highly related.
(Fill up the blank with correct alternative)

Question 9:
Economics is a ..................... science which studies economic behaviour of a man. 
(a) social
(b) physical
(c) both (a) and (b)
(d) none of these

Correct Answer is Option (a)

Economics is a social science which studies economic behaviour of a man. (Fill up the blank with correct alternative)


Read the following passage and answer the questions that follow: 
Activities involved in production (manufacturing), distribution (transportation) and consumption (retail) are constantly seeking economies to improve their competitiveness and increase their market share. The consumption of goods and services is a primary component of economic well-being and, as such, a primary indicator of living standards. Wealth and income are available to support consumption, today and in the future. Production, in the market and at home, supports consumption.

Economies of transportation relate to the benefits that lower transport costs may grant to specific activity sectors and are derived from a locational choice. For production, it relates to a location that minimizes total transport costs and thus lowers production unit costs. Some are elements of transport costs in production while others are elements of transport costs in consumption.

Economies of scope relate to the benefits derived by expanding the range of goods and services. For production, they are commonly based on product diversification and flexible manufacturing systems able to produce a variety of products in view of changes in the demand and consumer preferences.

For distribution, economies of scope are very important and commonly achieved when a transporter is able to bundle several different loads into fewer loads. For consumption, activities offering a wider range of goods or services are usually able to attract more customers since they have more choices. Economies of scale and economies of scope are highly related.
Read the following statements–Assertion (A) and Reason (R).

Question 10:
Assertion (A): Economies of scale and economies of scope are highly related.
Reason (R): Both economies of scale and economies of scope result in the savings in cost.
Select the correct alternative from the following:
(a) Both Assertion (A) and Reason ( R) are true.
(b) Both Assertion (A) and Reason (R) are false.
Correct Answer is Option (a)
Both Assertion (A) and Reason ( R) are true.


Read the following passage and answer the questions that follow: 
Activities involved in production (manufacturing), distribution (transportation) and consumption (retail) are constantly seeking economies to improve their competitiveness and increase their market share. The consumption of goods and services is a primary component of economic well-being and, as such, a primary indicator of living standards. Wealth and income are available to support consumption, today and in the future. Production, in the market and at home, supports consumption.

Economies of transportation relate to the benefits that lower transport costs may grant to specific activity sectors and are derived from a locational choice. For production, it relates to a location that minimizes total transport costs and thus lowers production unit costs. Some are elements of transport costs in production while others are elements of transport costs in consumption.

Economies of scope relate to the benefits derived by expanding the range of goods and services. For production, they are commonly based on product diversification and flexible manufacturing systems able to produce a variety of products in view of changes in the demand and consumer preferences.

For distribution, economies of scope are very important and commonly achieved when a transporter is able to bundle several different loads into fewer loads. For consumption, activities offering a wider range of goods or services are usually able to attract more customers since they have more choices. Economies of scale and economies of scope are highly related.
(Fill up the blank with correct alternative)

Question 11:
When we want to know how the consumer decides, given his income and many alternative goods to choose from, what to buy when he knows the prices. This is the study of ..................... .
(a) production
(b) consumption
(c) both (a) and (b)
(d) none of above

Correct Answer is Option (b)
When we want to know how the consumer decides, given his income and many alternative goods to choose from, what to buy when he knows the prices. This is the study of consumption .


Read the following passage and answer the question that follows: 

Alok and Shyam went to their teacher and asked help for understanding statistics in a proper way. While enquiring with them their teacher Mrs. Tiwari understood that she needs to start with the basics with them. She told them Statistics is a mathematical tool used by us to analyse any sort of a data. For example, with the help of statistics we can calculate the average height of the students in your class, or average marks that the students might have got in statistics or any other subject. Shyam asked, “Can we calculate the interest of a person using statistics?” Mrs. Tiwari said, “We can only calculate the things that can be expressed in quantitative form, that is in terms of numbers then we can use statistics, or else statistics is of no use.” Alok asked, “Can I find an average of my height and weight using statistics?” Mrs. Tiwari smiled and then answer, “No Alok. The data needs to be homogeneous. You cannot find the relation between the data which is not related to each other.” Alok thought for a while and then again said, “But what is BMI Index then, ma’am? It is calculated with the help of height and weight of a person.” Mrs. Tiwari said, “That is an excellent question Alok. Body Mass Index is the ratio between the two, but not an average. When we talk of statistics 

it is not only related to only average, but we can also analyse trends, measure relations and see the depth of the data.” They both thanked their teacher and went back.
State whether the given statement is true or false:
Question 12:
In statistics the data needs to be related to each other.
(a) True
(b) False

Correct Answer is Option (a)
Yes, In statistics the data needs to be related to each other.


Read the following passage and answer the question that follows: 

Alok and Shyam went to their teacher and asked help for understanding statistics in a proper way. While enquiring with them their teacher Mrs. Tiwari understood that she needs to start with the basics with them. She told them Statistics is a mathematical tool used by us to analyse any sort of a data. For example, with the help of statistics we can calculate the average height of the students in your class, or average marks that the students might have got in statistics or any other subject. Shyam asked, “Can we calculate the interest of a person using statistics?” Mrs. Tiwari said, “We can only calculate the things that can be expressed in quantitative form, that is in terms of numbers then we can use statistics, or else statistics is of no use.” Alok asked, “Can I find an average of my height and weight using statistics?” Mrs. Tiwari smiled and then answer, “No Alok. The data needs to be homogeneous. You cannot find the relation between the data which is not related to each other.” Alok thought for a while and then again said, “But what is BMI Index then, ma’am? It is calculated with the help of height and weight of a person.” Mrs. Tiwari said, “That is an excellent question Alok. Body Mass Index is the ratio between the two, but not an average. When we talk of statistics 

it is not only related to only average, but we can also analyse trends, measure relations and see the depth of the data.” They both thanked their teacher and went back.
Question 13:
Which of the following is not the use of statistics?
(a) Calculating the average of the data
(b) Calculating the trend of the data
(c) Both (a) and (b)
(d) Neither (a) nor (b)

Correct Answer is Option (d)
Neither (a) nor (b)


Read the following passage and answer the question that follows: 

Alok and Shyam went to their teacher and asked help for understanding statistics in a proper way. While enquiring with them their teacher Mrs. Tiwari understood that she needs to start with the basics with them. She told them Statistics is a mathematical tool used by us to analyse any sort of a data. For example, with the help of statistics we can calculate the average height of the students in your class, or average marks that the students might have got in statistics or any other subject. Shyam asked, “Can we calculate the interest of a person using statistics?” Mrs. Tiwari said, “We can only calculate the things that can be expressed in quantitative form, that is in terms of numbers then we can use statistics, or else statistics is of no use.” Alok asked, “Can I find an average of my height and weight using statistics?” Mrs. Tiwari smiled and then answer, “No Alok. The data needs to be homogeneous. You cannot find the relation between the data which is not related to each other.” Alok thought for a while and then again said, “But what is BMI Index then, ma’am? It is calculated with the help of height and weight of a person.” Mrs. Tiwari said, “That is an excellent question Alok. Body Mass Index is the ratio between the two, but not an average. When we talk of statistics 

it is not only related to only average, but we can also analyse trends, measure relations and see the depth of the data.” They both thanked their teacher and went back.
Question 14:
..................... it is not only related to only average, but we can also analyse trends.
(a) Statistics
(b) Economics
(c) Both (a) and (b)
(d) Neither (a) nor (b)

Correct Answer is Option (a)
Statistics is not only related to only average, but we can also analyse trends.


Read the following passage and answer the question that follows: 

Alok and Shyam went to their teacher and asked help for understanding statistics in a proper way. While enquiring with them their teacher Mrs. Tiwari understood that she needs to start with the basics with them. She told them Statistics is a mathematical tool used by us to analyse any sort of a data. For example, with the help of statistics we can calculate the average height of the students in your class, or average marks that the students might have got in statistics or any other subject. Shyam asked, “Can we calculate the interest of a person using statistics?” Mrs. Tiwari said, “We can only calculate the things that can be expressed in quantitative form, that is in terms of numbers then we can use statistics, or else statistics is of no use.” Alok asked, “Can I find an average of my height and weight using statistics?” Mrs. Tiwari smiled and then answer, “No Alok. The data needs to be homogeneous. You cannot find the relation between the data which is not related to each other.” Alok thought for a while and then again said, “But what is BMI Index then, ma’am? It is calculated with the help of height and weight of a person.” Mrs. Tiwari said, “That is an excellent question Alok. Body Mass Index is the ratio between the two, but not an average. When we talk of statistics 

it is not only related to only average, but we can also analyze trends, measure relations, and see the depth of the data.” They both thanked their teacher and went back.
Question 15:
What can’t statistics be used for?
(a) Non-numerical data
(b) Quantifiable data
(c) Related data
(d) None of the above

Correct Answer is Option (a)
Statistics can not be used for Non-numerical data

Check out this Sample Paper of CBSE Class 11 Economics. 
Attempt new CBSE pattern questions here.

The document Statistics for Economics- Assertion-Reason & Case Based Questions Notes | Study Economics Class 11 - Commerce is a part of the Commerce Course Economics Class 11.
All you need of Commerce at this link: Commerce

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