MCQ Class 11 Economics Chapter 1 Introduction CBSE Board

Statistics for Economics

1. Why is data collected about economic problems?

To increase scarcity

To understand and explain the causes of problems

To avoid studying economic activities

To eliminate the need for analysis

Question 1 of 20

2. Which of the following is mentioned as a factor contributing to poverty?

Unlimited employment opportunities

Unlimited productivity

Unlimited availability of resources

Unemployment

Question 2 of 20

3. What are measures designed to help solve an economic problem called in economics?

Policies

Wants

Resources

Consumers

Question 3 of 20

4. Statistics is the study of numbers relating to selected facts in:

An imaginary form

An unorganised form

A systematic form

A purely personal form

Question 4 of 20

5. Which of the following best describes Statistics?

The study of production alone

The collection, analysis, interpretation and presentation of numerical data

The study of consumers alone

The distribution of national income alone

Question 5 of 20

6. Which of the following is an example of quantitative data?

Beauty

Intelligence

Ability to sing

Income earned

Question 6 of 20

7. Which of the following is an example of qualitative data?

Intelligence

Income earned

Marks obtained

Taxes paid

Question 7 of 20

8. Which subject is identified as a branch of mathematics and is also used in economics?

Geography

History

Statistics

Literature

Question 8 of 20

9. Which of the following is a numerical measure used to summarise data?

Gender

Mean

Ability to sing

Intelligence

Question 9 of 20

10. After data is collected, what is one way of presenting it?

By ignoring the collected facts

By replacing facts with guesses

By removing all numerical information

Through tables, diagrams and graphs

Question 10 of 20

11. What is one important use of Statistics for an economist?

Understanding economic problems

Making all resources unlimited

Removing every human want

Replacing all economic activities

Question 11 of 20

12. Why are precise statistical facts more convincing than vague statements?

They always eliminate every problem

They do not require evidence

They express facts in an exact and definite form

They depend entirely on imagination

Question 12 of 20

13. Which of the following is an example of summarising mass data?

Listing every person's income without analysis

Calculating the average income of a large group

Ignoring all collected information

Replacing data with personal opinions

Question 13 of 20

14. How can an economist examine whether two economic factors are related?

By ignoring the data

By relying only on imagination

By avoiding statistical techniques

By applying statistical methods to the data

Question 14 of 20

15. Which example illustrates the use of Statistics in predicting future economic trends?

Predicting future consumption to plan production

Ignoring previous consumption figures

Avoiding all production decisions

Choosing goods without considering resources

Question 15 of 20

16. What information is important when deciding how much oil a country should import?

The number of railway booking counters

The personal preferences of consumers alone

Expected domestic oil production and likely demand

The number of people employed in shops alone

Question 16 of 20

17. How can Statistics help evaluate an economic policy?

By making the policy impossible to assess

By examining whether the policy has been effective

By avoiding the collection of data

By replacing evidence with assumptions

Question 17 of 20

18. Which of the following is mentioned as a serious economic problem in the conclusion?

Unlimited resources

Unlimited income

Complete absence of scarcity

Unemployment

Question 18 of 20

19. What lesson does the river-crossing example teach about statistical averages?

Statistical methods should not replace common sense

Averages always guarantee safety

Statistical calculations are never useful

Every river has the same depth

Question 19 of 20

20. Which statement best describes the role of Statistics in Economics?

It completely eliminates scarcity

It satisfies every human want

It helps analyse economic problems, predict trends and formulate policies

It makes economic data unnecessary

Question 20 of 20

Statistics for Economics

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