Which of the following is NOT an economic activity

• Production of books

• Investment in stocks

• Donation of blood

• Consumption of Ice creams

Economics is an art because

• it gives practical application of scientific principles

• it makes it easier to understand economic conditions

• its laws can be tested in controlled conditions

• None of the above

Activities undertaken to earn a living are known as

• Non-Economic activities

• Economic activities

• Both of these

• None of these

_______ is a person who buys goods and services for the satisfaction of his/her wants

• Producer

• Service provider

• Service holder

• Consumer

Which economist is known as the "Father of modern economics"?

• Alfred Marshall

• Adam Smith

• Samuelson

• Karl Marx

Statistics in singular sense means

• Statistical data

• Statistical procedure

• statistical laws

• None of these

Distrust of statistics is due to

• limitation of statistics

• Misuse of statistics

• Insufficient statistical methods

• None of these

Statistics in plural sense means

• Statistical methods

• Descriptive statistics

• Quantitative data

• Qualitative data

Statistics in singular sense includes

• Collection of data

• Organisation of data

• Analysis of data

• All of these

Statistics is defined in terms of numerical data in

• Singular sense

• Plural sense

• Both of these

• None of these