Ch 1 Introduction (Statistics)Class 11 Economics

The most fundamental economic problem is

• health

• security

• export and import

• scarcity

Economics is best defined as the study of how people

• use their infinite resources

• attain wealth

• choose abundance over scarcity

• attain education from best school

A consumer is one who consumes goods and services for-

• need of education

• satisfaction of his wants

• help to others

• to earn money

Which of the following is an economic activity?

• Blood donation for a noble cause

• care of children by father

• household work done by mother

• service provided by doctor in hospital

Consumption is -

• supply of goods and services

• use of goods and services to satisfy wants

• riding a car safely

• production of goods and services for human wants

The factors of production are-

• manager, labour, raw material and land

• machinery, factory, electricity and labour

• entrepreneur, land , labour and capital

• money, labour, entrepreneur and raw material

Service provider is a person who-

• consume services

• provide services

• consume goods

• produce goods

Statistics can only deal with quantitative data. True or False. Justify your answer

Evaluate responses using AI:

OFF

Choose the correct sequence of steps of statistical tools-

• Organisation of data, presentation of data, collection of data,analysis of data and interpretation of data

• Collection of data, organisation of data, presentation of data, analysis of data, interpretation of data

• Collection of data, analysis of data, presentation of data, organisation of data and interpretation of data

• Collection of data, analysis of data, organisation of data presentation of data and interpretation of data

Today's activities of my friend Shreya , who is a singer is given below:

1. In the morning, she performed a stage show for singing and got $10,000 as remuneration

2. In the evening, she celebrates her father's birthday at home and sang a song for him.

From above information which statement is true-

• activity 1 is economic activity and activity 2 is non-economic activity

• activity 2 is economic activity and activity 1 is non-economic activity

• 1 and 2 both are economic activities

• 1 and 2 both are non-economic activities