Introduction Test

Result

Introduction Test - 19

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Weekly Quiz Competition

Question 1
1 / -0

Who is responsible for collecting & presenting statistics in India ________.

A
ISI

B
CSO

C
ICAER

D
NCERT
Question 2
1 / -0

"Statistics refers to the classified facts representing the conditions of the people in the State, especially those facts which can be stated in numbers or in tables of numbers or in any tabular classified arrangement".
This definition of statistics was given by _____________.

A
Bowley

B
Wappans

C
Prof. Horace Secrist

D
Webster

Solution

According to Webster, "Statistics refers to the classified facts representing the conditions of the people in the State, especially those facts which can be stated in numbers or in tables of numbers or in any tabular classified arrangement"
Question 3
1 / -0

Production is a / an _____________ activity.

A
Charitable

B
Beneficial

C
Economic

D
Successful

Solution

Economic activity is an activity that generates income and involves production, sale and distribution of goods and services. The motive behind an economic activity is to earn money and not to meet emotional and sentimental human needs.
Thus, production is an economic activity that generates income and is undertaken with a motive to earn profit.
The correct option is C.
Question 4
1 / -0

The word 'Statistics' as used in earlier days by Italians is __________.

A
statistik

B
statista

C
status

D
statustic

Solution

Statistics is derived from the italian word "statista ".
Question 5
1 / -0

Ram : My corn harvest this year is poor.
Krishna : Don't worry. Price increases will compensate for the fall in quantity supplied.
Vinod : Climate affects crop yields. Some years are bad, others are good.
Madhur : The Government ought to guarantee that our income will not fall.
In the conversation the normative statement is made by ______________.

A
Ram

B
Krishna

C
Vinod

D
Madhur

Solution

Normative Statement refers to "What ought to be" or it makes an assessment of an activity and offers advice. Hence the statement made by Madhur is a normative statement.
Question 6
1 / -0

The word 'Statistics' had its origin from the Latin word _____________.

A
statistik

B
stato

C
status

D
statustic

Solution

Statistics is derived from the latin word "status".
Question 7
1 / -0

In ancient days, the word statistics was used only for facts and figures required by the state for its official use and was known as ___________.

A
the science of king

B
the science of state craft

C
political arithmetic

D
all of the above

Solution

Statistic has been called "science of king" as in ancient times it was mainly used by kings to collect information about their kingdom and the people in it (similar to the government today). This is why its also called "political arithmetic" or "the science of state craft" as politicians may use it as a powerful tool to gain popularity among the public (by boasting about high economic growth or low unemployment and inflation rates) and thus get votes to remain in power.
Question 8
1 / -0

Which of the following is/are an outcome of a technological change?

A
A downward shift in the production function

B
Same output with fewer inputs or more output with same inputs

C
Invention of a product or production process

D
Both (b) and (c) above

Solution

1) Same output with fewer inputs or more output with same inputs
2) Invention of a product or production process
Both the situations can be defined as an outcome of a technological change as the production rises because of technological advancement in both the situation.
As a result, the production possibility curve will shift to the right.
Question 9
1 / -0

Custom Duties are levied on ______________.

A
Exports and imports

B
Manufacture of excisable goods/commodities

C
Services rendered

D
Sale made by a dealer in the course of inter-state or intra-state or commerce

Solution

Custom Duties are levied on exports and imports. Custom duty can also be defined as a type of tax which should be paid by people for exporting to foreign countries and importing goods from foreign countries.
Question 10
1 / -0

In the pre-reforms period (i.e. before 1991), banking scene was dominated by the __________ sector.

A
private

B
public

C
both (a) and (b)

D
neither (a) nor (b)

Solution

India adopted the socialist form of economy prior to 1991 which involved a lot of government intervention in all the sectors including banking sector which made Indian economy a little conservative compared to other economic structures prevalent then. But after 1991, the government disinvested all its share from most of the sectors including banking sector which brought privatization in banking sector where public sector used to dominate prior to 1991.

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Re-Attempt Weekly Quiz Competition

Introduction Test - 19

Result

Introduction Test - 19

Score

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Rank

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SHARING IS CARING

Question 1

ISI

CSO

ICAER

NCERT

Question 2

Bowley

Wappans

Prof. Horace Secrist

Webster

Solution

Question 3

Charitable

Beneficial

Economic

Successful

Solution

Question 4

statistik

statista

status

statustic

Solution

Question 5

Ram

Krishna

Vinod

Madhur

Solution

Question 6

statistik

stato

status

statustic

Solution

Question 7

the science of king

the science of state craft

political arithmetic

all of the above

Solution

Question 8

A downward shift in the production function

Same output with fewer inputs or more output with same inputs

Invention of a product or production process

Both (b) and (c) above

Solution

Question 9

Exports and imports

Manufacture of excisable goods/commodities

Services rendered

Sale made by a dealer in the course of inter-state or intra-state or commerce

Solution

Question 10

private

public

both (a) and (b)

neither (a) nor (b)

Solution

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