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Economics M.C.Q (1 Marks)

Introduction · CBSE STD 11 Commerce (CBSE - English Medium). 68 questions.

Questions · Page 1 of 2

M.C.Q (1 Marks)

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50 questions · auto-graded multiple-choice test.

MCQ 11 Mark
Statistics in singular sense includes:
  • A
    Collection of data.
  • B
    Organisation of data.
  • C
    Presentation of data.
  • ✓
    All of the above.
Answer
Correct option: D.
All of the above.
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MCQ 21 Mark
Distrust of Statistics is due to:
  • ✓
    Misuse of Statistics.
  • B
    Insufficient Statistical Methods.
  • C
    Lack of Scope of Statistics.
  • D
    Limitations of Statistics.
Answer
Correct option: A.
Misuse of Statistics.
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MCQ 31 Mark
Statistics is the science of analyzing:
  • A
    Any Kind of Data.
  • B
    Qualitative Data.
  • ✓
    Quantitative Data.
  • D
    Imaginative data.
Answer
Correct option: C.
Quantitative Data.
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MCQ 41 Mark
Statistical data are affected by $..........$ cause$/$ causes.
  • A
    a single.
  • ✓
    multiple.
  • C
    Either $(a)$ or $(b).$
  • D
    All of these.
Answer
Correct option: B.
multiple.
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MCQ 51 Mark
When economic facts are expressed in statistical terms they become:
  • A
    Vague.
  • ✓
    Exact.
  • C
    Convincing.
  • D
    Futile.
Answer
Correct option: B.
Exact.
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MCQ 61 Mark
What implication$(s)$ does resource scarcity has for the satisfaction of wants?
  • ✓
    Not all wants can be satisfied.
  • B
    The discovery of new natural resources is necessary to increase our ability to satisfy wants.
  • C
    We will never be faced with the need to make choices.
  • D
    We must develop ways to decrease our individual wants.
Answer
Correct option: A.
Not all wants can be satisfied.
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MCQ 71 Mark
Statistics in a singular sense means:
  • A
    Statistical data.
  • ✓
    Statistical methods.
  • C
    Inductive statistics.
  • D
    Descriptive statistics.
Answer
Correct option: B.
Statistical methods.
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MCQ 81 Mark
Which of the following indicates a stage of statistical study?
  • A
    Collection of data.
  • B
    Presentation of data.
  • C
    Analysis of data.
  • ✓
    All of these.
Answer
Correct option: D.
All of these.
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MCQ 91 Mark
Which of the following statements is not an example of Statistics?
  • A
    Birth rate in India is 18 per thousand as compared to 8 per thousand in the US.
  • ✓
    Ramesh has a ₹ 100 note in his pocket.
  • C
    Over the last 10 years, India has won 60 text matches in cricket and lost 50.
  • D
    Average pocket allowance of the students of Class XI is ₹ 500 per month.
Answer
Correct option: B.
Ramesh has a ₹ 100 note in his pocket.
Ramesh has a ₹ 100 note in his pocket.
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MCQ 101 Mark
The aggregate of data is called:
  • ✓
    Statistics.
  • B
    Editing of data.
  • C
    Analysis of data.
  • D
    Collection of data.
Answer
Correct option: A.
Statistics.
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MCQ 111 Mark
Kshitij is employed in a Multi-National Company (MNC) as a Marketing Executive. He is a _________.
  • A
    producer.
  • B
    consumer.
  • C
    service-provider.
  • ✓
    service-holder.
Answer
Correct option: D.
service-holder.
service-holder.
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MCQ 121 Mark
Which of the following is not a stage in statistical study?
  • A
    Organization of Data.
  • B
    Presentation of Data.
  • ✓
    Publication of Data.
  • D
    Interpretation of data.
Answer
Correct option: C.
Publication of Data.
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MCQ 131 Mark
Distrust of statistics is due to:
  • ✓
    Misuse of statistics.
  • B
    Insufficient statistical methods.
  • C
    Scope of statistics is limited.
  • D
    Limitations of statistics.
Answer
Correct option: A.
Misuse of statistics.
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MCQ 141 Mark
The proper use of statistics can be made by:
  • A
    Cheats
  • B
    Everyone
  • ✓
    Experts
  • D
    Common Man
Answer
Correct option: C.
Experts
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MCQ 151 Mark
Statistics as a singular noun means:
  • A
    Inductive Statistics.
  • ✓
    Statistical Methods.
  • C
    Descriptive Statistics.
  • D
    Statistical Data.
Answer
Correct option: B.
Statistical Methods.
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MCQ 161 Mark
$..........$ is the root cause of economic problem.
  • A
    Unlimited wants.
  • ✓
    Scarcity.
  • C
    Alternate uses of resources.
  • D
    Both $(a)$ and $(b).$
Answer
Correct option: B.
Scarcity.
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MCQ 171 Mark
Statistical methods help to:
  • A
    Analyse economic problems.
  • B
    Formulate policies to solve them.
  • C
    Find economic relationships.
  • ✓
    All the above.
Answer
Correct option: D.
All the above.
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MCQ 181 Mark
An economic problem arises because:
  • A
    Human wants are unlimited.
  • B
    Means are limited.
  • C
    Resources have alternate uses.
  • ✓
    All of the above.
Answer
Correct option: D.
All of the above.
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MCQ 191 Mark
What is the root cause of all economic problems?
  • ✓
    Scarcity.
  • B
    Excess Demand.
  • C
    Excess Supply.
  • D
    Deficient Demand.
Answer
Correct option: A.
Scarcity.
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MCQ 201 Mark
Statistics facilitates:
  • ✓
    Comparison of data.
  • B
    Collection of data.
  • C
    Organisation of data.
  • D
    Disposal of data.
Answer
Correct option: A.
Comparison of data.
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MCQ 211 Mark
The word 'Statistics' is used as:
  • A
    Singular.
  • B
    Plural.
  • ✓
    Singular and Plural both.
  • D
    None of the above.
Answer
Correct option: C.
Singular and Plural both.
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MCQ 221 Mark
_________ is the process through which the total income generated in the country is distributed among the factors of production in the form of rent, wages, interest or profit.
  • A
    Production.
  • B
    Consumption.
  • ✓
    Distribution.
  • D
    Investment.
Answer
Correct option: C.
Distribution.
Distribution.
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MCQ 231 Mark
Statistics is defined in terms of numerical data in the:
  • A
    Singular Sense.
  • ✓
    Plural Sense.
  • C
    Either (a) or (b).
  • D
    Both (a) and (b).
Answer
Correct option: B.
Plural Sense.
Plural Sense.
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MCQ 241 Mark
Statistics as a plural noun indicates:
  • A
    Statistical methods.
  • B
    Descriptive statistics.
  • ✓
    Statistical data.
  • D
    Inductive statistics.
Answer
Correct option: C.
Statistical data.
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MCQ 251 Mark
Who is known as father of economics?
  • A
    Marshall.
  • ✓
    Adam Smith.
  • C
    $JB$ Say.
  • D
    Robbins.
Answer
Correct option: B.
Adam Smith.
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MCQ 261 Mark
Which of the following statement can be called Statistics?
  • A
    In our school there are 5000 students.
  • ✓
    India has per capita income of ₹ 20,000 p.a.
  • C
    USA is the richest country in the world.
  • D
    Technology of Japan is very advanced.
Answer
Correct option: B.
India has per capita income of ₹ 20,000 p.a.
India has per capita income of ₹ 20,000 p.a.
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MCQ 271 Mark
The law of scarcity:
  • A
    Does not apply to rich, developed countries.
  • ✓
    Implies that consumer's wants will never be completely satisfied.
  • C
    Applies only to the less developed countries.
  • D
    Implies that consumer's wants will be satisfied in a socialistic system.
Answer
Correct option: B.
Implies that consumer's wants will never be completely satisfied.
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MCQ 281 Mark
Study of the distribution of the Gross Domestic Product is called:
  • A
    The study of production.
  • B
    The study of consumption.
  • ✓
    The study of distribution.
  • D
    None of these.
Answer
Correct option: C.
The study of distribution.
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MCQ 291 Mark
$...........$ of data is the last stage of statistical study.
  • A
    Presentation.
  • B
    Analysis.
  • ✓
    Interpretation.
  • D
    None of these.
Answer
Correct option: C.
Interpretation.
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MCQ 301 Mark
Out of the numerical examples mentioned below, which can be considered as statistics?
  • A
    The sale of firm A is 70,000 tonnes.
  • B
    The cost of AC was ₹ 25,000 in the month of April.
  • ✓
    Ram got 12% more marks than Shyam.
  • D
    In India, the death rate in 2001 was 8.7 per thousand.
Answer
Correct option: C.
Ram got 12% more marks than Shyam.
Ram got 12% more marks than Shyam.
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MCQ 311 Mark
The process of converting raw material into goods is called:
  • ✓
    Production
  • B
    Saving
  • C
    Investment
  • D
    Exchange
Answer
Correct option: A.
Production
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MCQ 321 Mark
One who produces a commodity to satisfy the human wants is called a:
  • ✓
    Producer.
  • B
    Consumer.
  • C
    Seller.
  • D
    Buyer.
Answer
Correct option: A.
Producer.
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MCQ 331 Mark
Statistics helps to present facts in a $..........$ form.
  • A
    definite.
  • B
    vague.
  • C
    simple.
  • ✓
    Both $(a)$ and $(c).$
Answer
Correct option: D.
Both $(a)$ and $(c).$
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MCQ 341 Mark
The statistics is concerned with:
  • ✓
    Aggregate of organised facts.
  • B
    Aggregate of disorganised facts.
  • C
    Aggregate of useless facts.
  • D
    Aggregate of unrelated facts.
Answer
Correct option: A.
Aggregate of organised facts.
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MCQ 351 Mark
Which of the following statement is true?
  • A
    Statistics deals with all kinds of data.
  • B
    Statistics can be used by one and all.
  • C
    It is very difficult to misuse statistics.
  • ✓
    Statistics can mould data to make god or devil from it.
Answer
Correct option: D.
Statistics can mould data to make god or devil from it.
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MCQ 361 Mark
Statistics is the science of analysing:
  • A
    Qualitative data.
  • ✓
    Quantitative data.
  • C
    Any kind of data.
  • D
    Both $(a)$ and $(b).$
Answer
Correct option: B.
Quantitative data.
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MCQ 371 Mark
In singular sense Statistics means:
  • A
    Statistical science.
  • B
    Statistical law.
  • ✓
    Both $(a)$ and $(b).$
  • D
    None of these.
Answer
Correct option: C.
Both $(a)$ and $(b).$
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MCQ 381 Mark
The scope of statistics extends to:
  • A
    Economics.
  • B
    Industry.
  • C
    Government.
  • ✓
    All of these.
Answer
Correct option: D.
All of these.
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MCQ 391 Mark
Which economist shifted the emphasis of economics from wealth to welfare?
  • ✓
    Marshall.
  • B
    Adam Smith.
  • C
    J B Says.
  • D
    Robbins.
Answer
Correct option: A.
Marshall.
Marshall.
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MCQ 401 Mark
From the given activities, which activity is called non$-$economic activity?
  • A
    Services rendered by a teacher.
  • ✓
    Organising a free blood donation camp.
  • C
    A tourist guide rendering services.
  • D
    Manufacturing shirt with the help of cloth and tailoring.
Answer
Correct option: B.
Organising a free blood donation camp.
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MCQ 411 Mark
$...........$ is the process through which consumers satisfy their wants by the use of goods and services.
  • A
    Distribution.
  • B
    Production.
  • ✓
    Consumption.
  • D
    None of the above.
Answer
Correct option: C.
Consumption.
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MCQ 421 Mark
Who among the following, is engaged in an economic activity?
  • A
    A farmer growing wheat for self$-$consumption.
  • B
    A father buying books for his children.
  • C
    A person going to a temple.
  • ✓
    Both $(a)$ and $(b).$
Answer
Correct option: D.
Both $(a)$ and $(b).$
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MCQ 431 Mark
Which activity is the base of all production activities?
  • A
    Production.
  • ✓
    Consumption.
  • C
    Investment.
  • D
    Exchange.
Answer
Correct option: B.
Consumption.
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MCQ 441 Mark
Which of the following statements is incorrect?
  • A
    Resources have alternative uses.
  • ✓
    All numbers are Statistics.
  • C
    Macroeconomics studies large aggregates.
  • D
    Statistics studies only the aggregates of quantitative facts.
Answer
Correct option: B.
All numbers are Statistics.
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MCQ 451 Mark
In plural sense, which of the following is not a characteristic of Statistics?
  • A
    Aggregate of data.
  • ✓
    Only expressed in words.
  • C
    Affected by multiplicity of causes.
  • D
    Collected in a systematic manner.
Answer
Correct option: B.
Only expressed in words.
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MCQ 461 Mark
'Economics is a study of mankind in the ordinary business of life'. This definition of Economics is given by:
  • ✓
    Alfred Marshall.
  • B
    Adam Smith.
  • C
    Prof. Robbins.
  • D
    Prof. Samuelson.
Answer
Correct option: A.
Alfred Marshall.
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MCQ 471 Mark
Which of the following statement does not hold true as one of the characteristic of statistics?
  • A
    Statistics are aggregates of facts.
  • ✓
    Statistics can be affected even by an individual variable.
  • C
    Statistics are collected in a systematic manner.
  • D
    Statistics are collected for a pre$-$determined purpose.
Answer
Correct option: B.
Statistics can be affected even by an individual variable.
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MCQ 481 Mark
Universe in Statistics means:
  • A
    All celestial bodies.
  • B
    People living on the earth.
  • ✓
    People or things about which we are conducting a study or survey.
  • D
    All of the above.
Answer
Correct option: C.
People or things about which we are conducting a study or survey.
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MCQ 491 Mark
The word ‘statistics’ is used as:
  • ✓
    Singular
  • B
    Plural
  • C
    Singular and Plural both
  • D
    None
Answer
Correct option: A.
Singular
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MCQ 501 Mark
In relation to the means to satisfy them, human wants are always $..........$
  • A
    Meagre.
  • B
    Scarce.
  • C
    Sufficient.
  • ✓
    Unlimited.
Answer
Correct option: D.
Unlimited.
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M.C.Q (1 Marks) - Economics STD 11 Commerce Questions - Vidyadip