Introduction to Statistics Class 11 MCQ Questions Economics are covered in this Article. Introduction to Statistics Class 11 MCQ Test contains 30 questions. Answers to MCQs on Introduction to Statistics Class 11 Economics are available after clicking on the answer. These MCQ have been made for Class 11 students to help check the concept you have learnt from detailed classroom sessions and application of your knowledge.
Introduction to Statistics Class 11 MCQ Questions Economics
1._____ is one who consumes goods and services for the satisfaction of their wants.
(a) Producer
(b) Consumer
(c) Investor
(d) All of the above
Answer
Answer: (b) Consumer
2. ______ is the one who produces or sells goods and services for the generation of income.
(a) Producer
(b) Consumer
(c) Investor
(d) All of the above
Answer
Answer: (a) Producer
3. Saving and Investment are_______activity
(a) Production
(b) Consumption
(c) Economic
(d) Non-economic
Answer
Answer: (c) Economic
4. Act of abstinence from consumption is known as______.
(a) Production
(b) Savings
(c) Investment
(d) Consumption
Answer
Answer: (b) Savings
5. _____ implies scarcity of limited resources with regards to unlimited wants.
(a) Production
(b) Consumption
(c) Economic activity
(d) Non-economic activity
Answer
Answer: (c) Economic activity
6. “Economic activity is the study of mankind in the ordinary life of business”, this definition was given by;
(a) Alfred Marshall
(b) Robbins
(c) Peterson
(d) None of the above
Answer
Answer: (a) Alfred Marshall
7. Which of the following are Components of economics?
(a) Consumption
(b) Production
(c) Distribution
(d) All of the above
Answer
Answer: (d) All of the above
8. Which of the following are the features of statistics in the plural sense?
(a) It is a aggregate of facts
(b) Statistics is numerically expressed
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (c) Both (a)&(b)
9. Which of the following is not one of the limitations of statistics?
(a) Statistics study numerical facts only
(b) Statistical results are true only on averages
(c) Heterogeneous data is required
(d) Statistics study aggregates only
Answer
Answer: (c) Heterogeneous data is required
10. Which of the following are regarded as the importance of economics?
(a) Statistics is a quantitative expression of economic problems
(b) Statistics works out cause and effect relationship
(c) Statistics facilitates economic forecasting
(d) All of the above
Answer
Answer: (d) All of the above
Introduction to Statistics Class 11 MCQ Questions Economics
11. Read the following statement given the and choose the correct alternative
Statement 1- Resources are always limited in relation to human wants.
Statement 2- Not all the resources have alternative uses
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (c) Statement 1 is correct and statement 2 is incorrect
12. Read the following statement given below and choose the correct alternative
Statement 1- Agents of production are the owners of factors of production
Statement 2- Social components of economics are poverty and unemployment
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (a) Both are correct
13. Read the following statement given below and choose the correct alternative
Statement 1- Statistics is a qualitative measure
Statement 2- Only aggregate number of facts is called statistics
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (d) Statement 1 is incorrect and statement 2 is correct
14. Read the following statement given below and choose the correct alternative
Statement 1- All statistics are data
Statement 2- All data are not Statistics
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (a) Both are correct
15. Read the following statement given below and choose the correct alternative
Statement 1- Inferential statistics refers to the methods of collection, presentation and analysis of data
Statement 2- Descriptive statistics refers to the methods by which conclusions are drawn.
(a) Both are correct
(b) Both are incorrect
(c) Statement 1 is correct and statement 2 is incorrect
(d) Statement 1 is incorrect and statement 2 is correct
Answer
Answer: (b) Both are incorrect
16. Read the following statement given below and choose the correct alternative
Assertion(A)- Statistics is the lifeline of economics
Reason (R) – Statistics helps to establish various statistical relationship
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion
(b) Both assertion and reason are true. Reason is not the correct explanation of assertion
(c) Assertion is true but reason is not
(d) Reason is true but assertion is not
Answer
Answer: (a) Both Assertion and reason are true. Reason is the correct explanation of assertion
17. Read the following statement given below and choose the correct alternative
Assertion(A)- Statistics is a rainbow of lies
Reason (R )- Anyone can alter statistics to arrive at predetermined conclusions
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion
(b) Both assertion and reason are true. Reason is not the correct explanation of assertion
(c) Assertion is true but reason is not
(d) Reason is true but assertion is not
Answer
Answer: (d) Reason is true but assertion is not
18. Read the following statement given below and choose the correct alternative
Assertion (A)- Distrust on statistics can not be removed and is inevitable
Reason (R )- Statistics is a clay which we can use to make a god or devil, as we wish
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion
(b) Both assertion and reason are true. Reason is not the correct explanation of assertion
(c) Assertion is true but reason is not
(d) Reason is true but assertion is not
Answer
Answer: (d) Reason is true but assertion is not
19. Read the following statement given below and choose the correct alternative
Assertion (A)- If your class teacher estimates average height of the whole class on the basis of average height of four or five students he is using inferential Statistics
Reason (R )- Inferential statistics refers to all such methods by which conclusion can be drawn relating to the population of a given sample
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion
(b) Both assertion and reason are true. Reason is not the correct explanation of assertion
(c) Assertion is true but reason is not
(d) Reason is true but assertion is not
Answer
Answer: (b) Both assertion and reason are true. Reason is not the correct explanation of assertion
20. Read the following statement given below and choose the correct alternative
Assertion (A)- Statistics can be collected in a systematic manner
Reason (R )- No conclusions can be drawn from unsystematic collection of data
(a) Both Assertion and reason are true. Reason is the correct explanation of assertion
(b) Both assertion and reason are true. Reason is not the correct explanation of assertion
(c) Assertion is true but reason is not
(d) Reason is true but assertion is not
Answer
Answer: (a) Both Assertion and reason are true. Reason is the correct explanation of assertion
Introduction to Statistics Class 11 MCQ Questions Economics
21. Choose the correctly matched pair from the following
| Column A | Column B |
| A. Collection, organization, presentation, analysis and interpretation of data | 1. Removing distrust |
| B. Use of standard techniques for statistical study | 2. Stages of statistical study in singular sense |
| C. Biases in collecting data | 3. Statistical tools |
| D. Application by experts | 4. Distrust in statistics |
(a) A-3
(b) B-4
(c) C-2
(d) D-1
Answer
Answer: (d) D-1
22. Choose the correctly matched pair from the following
| Column A | Column B |
| A. Economic equilibrium | 1. Limitation of statistics |
| B. Prone to misuse | 2. Nature of statistics |
| C. Science and art | 3. Importance of statistics |
| D. Placed in relation to each other | 4. Feature of statistics |
(a) A-4
(b) B-3
(c) C-2
(d) D-1
Answer
Answer: (c) C-2
23. Choose the correctly matched pair from the following
| Column A | Column B |
| A. Using up utility value of goods and services | 1. Consumption |
| B. Converting raw material into useful things | 2. Investment |
| C. Part of income not spend on consumption | 3. Production |
| D. Expenditure on purchasing assets | 4. Savings |
(a) A-1
(b) B-2
(c) C-3
(d) D-4
Answer
Answer: (a) A-1
24. Choose the correctly matched pair from the following
| Column A | Column B |
| A. A science that studies human behaviour as a relationship between ends and scarce means which have alternative uses | 1. Professor Tippet |
| B. By statistics we mean quantitative data affected to a marked extent by multiplicity of causes | 2. Robbins |
| C. Statistics may be defined as collection, presentation, analysis and interpretation of numerical data | 3. Croxton and cowden |
| D. Statistics is both science as well as art | 4. Yule and kendall |
(a) A-4
(b) B-1
(c) C-3
(d) D-2
Answer
Answer: (c) C-3
25. Choose the correctly matched pair from the following
| Column A | Column B |
| A. Statistics compare volume instead of value | 1. Study numerical facts only |
| B. Statistics doesn’t study qualitative phenomenon | 2. Inter-sectoral and inter-temporal comparisons |
| C. Statistics compare different sectors of an economy | 3. Homogeneity of data |
| D. Statistics states the inverse relationship between price of a commodity and its Demand | 4. Construction of economic theory or economy models |
(a) A-3
(b) B-4
(c) C-1
(d) D-2
Answer
Answer: (a) A-3
Read the following text given below and answer the questions that follows
Statistics – A Plural Sense Statistics alludes to data as far as numbers or mathematical information, like populace measurements, business statistics and so on. According to Bowley, “Statistics are mathematical articulations of realities in any branch of inquiry comparable to one another.”
Features of Statistics in the Plural Sense
Aggregate of facts
Numerically expressed
Influenced by variety of causes
Reasonable accuracy
Set in relation to one another
Predetermined purpose
Estimated
Statistics – A Singular Sense It alludes to procedures or strategies identifying with assortment, order, show examination and understanding of quantitative information.
As indicated by Seligman, “Statistics is the science which manages the strategies for gathering, ordering, introducing, contrasting and deciphering mathematical information gathered with illuminate any circle of enquiry”
Importance of Statistics in Economics:
Quantitative expression of economic problem
Inter-sectoral and inter-temporal comparisons
Working out cause and effect relationship
Construction of economic theories or economic models
Economic forecasting
Formulation of policies
Limitations of Statistics:
Study of numerical facts only
Study of aggregates only
Results are true only on an average
Without reference, results may prove to be wrong
Can be used only by the experts
Prone to misuse
26. Which of the following are the limitations of statistics?
(a) Study of numerical facts only
(b) Study of aggregates only
(c) Results are true only on an average
(d) All of the above
Answer
Answer: (d) All of the above
27. Which of the following is not considered as important for statistics?
(a) Study of numerical facts only
(b) Quantitative expression of economic problem
(c) Inter-sectoral and inter-temporal comparisons
(d) Working out cause and effect relationship
Answer
Answer: (a) Study of numerical facts only
Introduction to Statistics Class 11 MCQ Questions Economics
28. Which of the following are features of statistics in a plural sense?
(a) Reasonable accuracy
(b) Set in relation to one another
(c) Predetermined purpose
(d) All of the above
Answer
Answer: (d) All of the above
29. A ______Statistics alludes to data as far as numbers or mathematical information, like populace measurements, business statistics and so on.
(a) Singular sense
(b) Plural sense
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (b) Plural sense
30. A_____ statistics alludes to procedures or strategies identifying with assortment, order, show examination and understanding of quantitative information.
(a) Singular sense
(b) Plural sense
(c) Both (a)&(b)
(d) None of the above
Answer
Answer: (a) Singular sense
Term 1 – NCERT Economics Class 11 MCQ
Part A – MCQ Questions for Class 11 Statistics Economics
- Introduction to Statistics Class 11 MCQ Questions
- Collection, Organisation and Presentation of Data
- Statistical Tools and Interpretation – Arithmetic Mean, Median and Mode
Part B – MCQ Questions for Class 11 Microeconomics