Introduction to Statistics Test

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Introduction to Statistics Test - 3

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Weekly Quiz Competition

Question 1
1 / -0

Economics that deal with economic issues related to units like a household, a firm or an industry

A
Master economics

B
Macro economics

C
Micro economics

D
None

Solution

All these deal with parts rather than wholes of an economy.
Question 2
1 / -0

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

A
Service holder

B
Merchant

C
Producer

D
Consumer

Solution

He doesn't require goods and services for manufacture or resale , but for satisfying wants only.
Question 3
1 / -0

Following are the non economic activities except

A
Charitable activities

B
Parental activities

C
Distribution activities

D
Social activities

Solution

Distribution is done taking into regard monetary gains.
Question 4
1 / -0

Economics is divided into three parts

A
Consumption, Production and Distribution

B
Consumption, Capital and Data collection

C
Conserve, Product and Distribution

D
Consumption, Production and Data collection

Solution

A good or service is firstly produced then distributed and ultimately consumed. Moreover
Question 5
1 / -0

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

A
statistics in plural sense

B
statistics in singular sense

C
Both

D
None

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 6
1 / -0

Which of the following is a social activity

A
meditating in a park

B
praying in a temple

C
taking dinner with the family,

D
helping victims of an accident

Solution

It implies no personal motive and is therefore social work .
Question 7
1 / -0

The study of mankind in the ordinary business of life

A
Environment

B
Econometric

C
Economy

D
Economics

Solution

The phrase 'business of life ' implies all the three aspects of economics : production , distribution and consumption .This definition was given by Alfred Marshall.
Question 8
1 / -0

Economic activity which is concerned with production of capital goods for further production of goods and services

A
Distribution

B
Production

C
Investment

D
Consumption

Solution

Investment refers to purchase of capital goods to create wealth rather than consuming it.
Question 9
1 / -0

Identify non-economic activity

A
Production of goods

B
Buying and selling of goods

C
Distribution of goods as charity

D
None

Solution

A non economic activity is undertaken without taking into account any monetary reward.
Question 10
1 / -0

Service holder is

A
A person who gives services to others for a payment

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

C
A person who produces goods

D
A person who is working or in a job and gets paid for it

Solution

A service holder takes his service and works under as employee.
Question 11
1 / -0

It is the part of income which is not consumed

A
Saving

B
Production

C
Consumption

D
Interest

Solution

Having satisfied their wants with money, consumers save a part of their income.
Question 12
1 / -0

Economics that deals with economic problems as a whole are called

A
Macro economics

B
Micro economics

C
Both

D
None

Solution

Macroeconomics deals with aggregates only and describes economic problems for the whole economy
Question 13
1 / -0

The activity which is related to the use of scarce resources

A
Economic activity

B
Non economic activity

C
Both

D
None

Solution

The source of all economic problems is scarcity of resources.
Question 14
1 / -0

Non economic activities are

A
Not concerned with money

B
Concerned with investment

C
Concerned with money

D
None

Solution

Non economic activity is undertaken without taking into account monetary reward.
Question 15
1 / -0

______ is the root of all economic problems

A
Allocation

B
Scarcity

C
Wants

D
Abundance

Solution

Had all resources in infinite abundance , the problems :what to produce , for whom to produce and how to produce wouldn't have taken place.
Question 16
1 / -0

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

A
Collection of data

B
Aggregate of facts

C
Collected in a systematic manner

D
Numerically expressed

Solution

The singular statistics is the science of collection, presentation, analysis and interpretation of data .
Question 17
1 / -0

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

A
Investment

B
Exchange

C
Distribution

D
Production

Solution

It's as per the definition of exchange in economics.
Question 18
1 / -0

Production is

A
The process of using up utility value of goods and services for the direct satisfaction of our wants

B
Process of converting raw material into useful things

C
Both

D
None

Solution

Production refers to conversion of raw materials into finished goods.
Question 19
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.
Options are

A
a,c,d,b,e

B
c,a,d,b,e

C
a,e,b,d,c

D
a,d,c,b,e

Solution

Data are collected then organised then presented then analysed and finally interpreted or concluded. This is a logical series of steps.
Question 20
1 / -0

Inter-sectoral comparison means

A
Comparison across different sectors of the economy

B
Comparison between different countries

C
Both

D
None

Solution

An economy is divided into a number of sectors and we need to analyse different sectors in order to analyse an economy. So, comparison is made between different sectors known as intersectoral comparison.

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Re-Attempt Weekly Quiz Competition

Introduction to Statistics Test - 3

Result

Introduction to Statistics Test - 3

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SHARING IS CARING

Question 1

Master economics

Macro economics

Micro economics

None

Solution

Question 2

Service holder

Merchant

Producer

Consumer

Solution

Question 3

Charitable activities

Parental activities

Distribution activities

Social activities

Solution

Question 4

Consumption, Production and Distribution

Consumption, Capital and Data collection

Conserve, Product and Distribution

Consumption, Production and Data collection

Solution

Question 5

statistics in plural sense

statistics in singular sense

Both

None

Solution

Question 6

meditating in a park

praying in a temple

taking dinner with the family,

helping victims of an accident

Solution

Question 7

Environment

Econometric

Economy

Economics

Solution

Question 8

Distribution

Production

Investment

Consumption

Solution

Question 9

Production of goods

Buying and selling of goods

Distribution of goods as charity

None

Solution

Question 10

A person who gives services to others for a payment

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

A person who produces goods

A person who is working or in a job and gets paid for it

Solution

Question 11

Saving

Production

Consumption

Interest

Solution

Question 12

Macro economics

Micro economics

Both

None

Solution