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Introduction Test - 3

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Introduction Test - 3
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Weekly Quiz Competition
  • Question 1
    1 / -0

    It deals with the collection, presentation, analysis and interpretation of quantitative information. This statement defines

    Solution

    The word statistics is used both as singular and plural . As singular , it stands for collection, presentation ,analysis and interpretation of data whereas as plural it means numerical facts collected for a specific purpose. 

  • Question 2
    1 / -0

    A person who buys goods and services for the satisfaction of human wants

    Solution

    He doesn't require goods and services for manufacture or resale , but for satisfying wants only. 

  • Question 3
    1 / -0

    Service holder is

    Solution

    A service holder takes  his service and works under  as employee. 

  • Question 4
    1 / -0

    Economics is divided into three parts

    Solution

    A good or service is firstly produced then distributed and ultimately consumed. Moreover 

  • Question 5
    1 / -0

    Which of the following is not the character of statistics in plural form

    Solution

    The singular statistics is the science of collection, presentation, analysis and interpretation of data . 

  • Question 6
    1 / -0

    Arrange stages in a statistical investigation
    (a) Collection of data
    (b) Analysis of data
    (c) Presentation of data
    (d) Organization of data
    (e) Interpretation of data.

    Solution

    Data are collected then organised then presented then analysed and finally interpreted or concluded. This is a logical series of steps. 

  • Question 7
    1 / -0

    Identify non-economic activity

    Solution

    A non economic activity is undertaken without taking into account any monetary reward. 

  • Question 8
    1 / -0

    It is a process which is concerned with sale and purchase of commodities

    Solution

    It's as per the definition of exchange in economics. 

  • Question 9
    1 / -0

    Economics that deals with economic problems as a whole are called

    Solution

    Macroeconomics deals with aggregates only and describes economic problems for the whole economy . 

  • Question 10
    1 / -0

    Production is

    Solution

    Production refers to conversion of raw materials into finished goods. 

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