Class 11 Stats

Class 11 - Economics
Introduction to Statistics Test 01s

TIME:1hr M.M35
Question No. 1 to 5 are based on the given text. Read the text
carefully and answer the questions:
Statistics is a data interpretation tool used for collecting, classifying
and analyzing data. It is an indispensable tool for an economist to
understand various business and economic problems and formulate
policies to tackle with them. In economics, we analyze behavior of
different groups such as consumers, producers, government and
come out with intuitions, models, and observations. However, it is
the data that enables an economist to claim such observations as
exact and precise. Statistics helps in Analysing various economic
problems such as inflation, unemployment etc by looking at
numbers, trends over the years. It summarises mass data like income,
consumption etc into measures like per capita income and per capita
consumptions which are more explanatory of how an economy is
performing. It predicts change that might happen in a factor due to
changing some other factor. For instance, predicting how inflation
would be affected if money supply is increased in the economy.
1. Which of the following is false regarding the importance of
statistics in economics? 1
a. It helps in finding mathematical relations between
variables
b. It is used in the administration and efficient functioning of
government departments
c. It helps in understanding and solving economic problems
d. It helps in studying market structure
2. Which of the following is not a Function Of Statistics?
a. Economic Equilibrium 1
b. Economic Forecasting
c. Construction of Economic Models
d. Political Equilibrium
3. The First Stage Of Statistical Study Is: 1
a. Presentation of data
b. Organisation of data
c. Collection of data
d. Analysis of data
4. Which of the following statements accurately reflects the root
of economic problems? 1
a. Scarcity is the root of all economic problems in a country
b. Inflation is the root of all economic problems in a country
c. Recession is the root of all economic problems in a
country
d. Monopoly is the root of all economic problems in a
country
5. Statistics facilitates ________ and ___________ comparison. 1
6. The word 'statistics' is used as: 1
a. Singular
b. Plural
c. None
d. Singular and Plural Both
7. The law of scarcity: 1
a. Implies that consumer's wants will never be completely
satisfied.
b. Applies only to the less developed countries.
c. Implies that consumer's wants will be satisfied in a
socialistic system.
d. Does not apply to rich, developed countries.
8. The study of mankind in the ordinary business of life 1
a. Economy
b. Environment
c. Economics
d. Econometric
9. ________ are always scare in relation to ________. 1
a. Means, limited wants
b. Means, wants
c. Wants, means
d. Wants, unlimited means
10. Who among the following is not engaged in an economic
activity? 1
a. A devotee visiting a pilgrimage
b. A farmer or a manufacturer
c. A doctor or a porter
d. Buying goods for family needs
11. Assertion (A): The statistical laws are true only on an
average basis. 1
Reason (R): The results are affected by a small number of
causes.
a. Both A and R are true and R is the correct explanation of
A.
b. Both A and R are true but R is not the correct explanation
of A.
c. A is true but R is false.
d. A is false but R is true.
12. Assertion (A): Data should be gathered with maximum
care by the investigator himself or obtained from reliable
published or unpublished sources. 1
Reason (R): Collection is the last step in a statistical study and is
the basis of statistical analysis.
a. Both A and R are true and R is the correct explanation of
A.
b. Both A and R are true but R is not the correct explanation
of A.
c. A is true but R is false.
d. A is false but R is true.
13. Fill in the blanks: 2
i. ________ activities are included in National Income.
ii. Production includes all those activities which are
undertaken to produce goods and services for the
generation of income by enhancing the utility of ________
and ________.
14. Define economics. 2
15. Give two examples of quantitative data. 2
16. Which one of the following is economic activity? Give reason.
(i) Transporting sand from river bank to a town.
(ii) Attending marriage party.
(iii) Parental love and affection towards their children. 3
17. State any three function of statistics. 3

18. Define Statistics in singular sense. 3
19. Do you think statistics reflects true human value in all the
cases? 4
20. Describe the importance of statistics in economics. 4

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Class 11 - Economics

Introduction to Statistics Test 01s

(i) Transporting sand from river bank to a town.

(ii) Attending marriage party.

(iii) Parental love and affection towards their children. 3

17. State any three function of statistics. 3

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