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Economics S1 MD Assignment

Total questions: 65

Worksheet time: 1hrs 5mins

Name
Class
Date
1.

If there are 4 pieces of pie and 3 people, is there scarcity?

a)

yes

b)

no

2.

The process of choosing one good or service over another. The item not chosen is the __________.

a)

good

b)

loss

c)

opportunity cost

3.

Economics is from the Greek word Oikonomia which means ___.

a)

Household management

b)

Budgeting skills

c)

Decisiveness

d)

Human resource management

4.

Economics is a branch of the Social Sciences so as __.

a)

History

b)

Astrology

c)

Biology

d)

Literature

5.

The branch of Economics that talks about the behavior of consumers, producers and the market.

a)

Micros

b)

Macros

c)

Microeconomics

d)

Macroeconomics

6.

The branch of Economics that tackles the aggregate activities of governments, industries and households.

a)

Micros

b)

Macros

c)

Microeconomics

d)

Macroeconomics

7.

The two goals of Economics.

a)

Interfere with government decisions and increase freewill.

b)

Respond to individual choice and budgeting.

c)

Answer the question of who to produce for and how to produce.

d)

Supply unlimited needs and satisfaction.

8.

The term used to describe how humans are/cannot be satisfied.

a)

Inseparable

b)

Insatiable

c)

Insane

d)

Introvert

9.

This is an example of non-material resource.

a)

Tears

b)

Rice

c)

Money

d)

Time

10.

Who was the founder of Economics?

a)

Adam Smith

b)

Alfred Marshall

c)

Keynes

d)

Ricardo

11.

Who said that Economics is a science of wealth?

a)
b)
c)
d)
12.

The goods which are directly consumed by human beings are called

a)

Capital Goods

b)

Industrial Goods

c)

Consumer Goods

d)

Private Goods

13.

What is the fundamental economic problem faced by all countries?

a)

Inflation

b)

Unemployment

c)

Scarcity

d)

Economic recession

14.

It is your second choice-what you give up when you make a decision.

a)

Choice

b)

Opportunity Cost

c)

Scarcity

d)

Shortage

15.

The decisions which are made by firms, individuals, and or governments regarding which needs and wants to satisfy, and what types of products and services should be produced and bought.

a)

Choices

b)

Opportunity Cost

c)

Scarcity

d)

Shortage

16.

The natural resources that people use: Forests, pasture land, minerals, water, etc. are products used in the production of goods and services, come from the earth.

a)

Labor

b)

Land

c)

Capital

d)

Entrepreneurship

17.

Economics is the study of how people make choices about ways to use _______________ resources to fulfill their unlimited wants and needs.

a)

Limited

b)

Unlimited

c)

Natural

d)

Man-made

18.

Adam Smith is known as the

a)

Father of Wealth

b)

Father of Politics

c)

Father of Economics

19.

Adam Smith is known for his book:

a)

The Wealth of States

b)

The Wealth of Nations

c)

The Wealth of Government

20.

Opportunity cost

a)

The cost of next best alternatives

b)

The cost of owner's resources

c)

The cost that is limited

d)

The cost that is compulsory to everyone

21.

What is choice?

a)

Selecting best among Opportunity costs

b)

Selecting best among Alternatives

c)

Selecting best among Needs

d)

Selecting best among Resources

22.
How many mountain bikes were sold?
a)
22
b)
28
c)
16
d)
6
23.

Calculate the mean.

16, 5, 7, 12

a)

9

b)

6

c)

12

d)

10

24.

Calculate the mean:

25, 36, 34, 17, 22, 31, 38

a)

25.3

b)

29

c)

40

d)

33.8

25.

Calculate the mean:

23, 15, 8, 12, 26, 5, 22, 9

a)

17.1

b)

15

c)

13.3

d)

12

26.

Find the mean of the numbers below:


4, 9, 7, 10, 5

a)

5

b)

6

c)

7

d)

8

27.

Which is the correct bar chart for this data table?

a)
b)
c)
28.

In ascending order, which of the following is correct in term of quantity?

a)

bear < fox < lion < elephant

b)

bear < elephant < fox < lion

c)

elephant < bear < lion < fox

29.

Choose the correct bar chart for this data table.

a)
b)
c)
30.

Which item has the highest quantity?

a)

Sweater

b)

scarf

c)

jacket

31.

How many people voted for red as their favorite color?

a)

100

b)

4

c)

2

d)

9

32.

How many more people have purple for a favorite color than red?

a)

3

b)

17

c)

5

d)

12

33.

How many students scored Grade B?

a)

3

b)

5

c)

12

d)

10

34.

Percentages are always out of ___ % and percentages are used in the same way as decimals and fractions.

a)

50

b)

100

c)

200

d)

1000

35.

If 25% of students get the car, 30% get the bus, 15% come by bike, how many students walk.

a)

25%

b)

85%

c)

31%

d)

30%

36.

Select the two percentages that add up to 50%

a)

50%

b)

1%

c)

80%

d)

49%

37.

What is missing on this pie chart?

a)

Percentages

b)

Key

c)

Percentage Symbol

38.

A pie chart is a full circle which is exactly (a)   degrees.

39.

What is the mean/average of these numbers? 4, 5, 5, 2, 3, 3, 2, 8

a)

5

b)

4

c)

3

d)

8

40.

How many degrees do the Peach, Banana and Pineapple take up of the pie chart?

a)

60

b)

120

c)

190

d)

216

41.

What percentage of people like Dogs the most?

a)

120%

b)

40%

c)

110%

d)

33%

42.
Which Continent is home to 36% of the wild cats?
a)
Asia
b)
Africa
c)
North America
d)
South America
43.
According to this graph, what is the most popular flavor of Jolly Rancher?
a)
Cherry
b)
Grape 
c)
Blue Raspberry
d)
Watermelon
44.

32 people went to a ice hockey match. The pie chart shows the colours of their shirts. How many people wore black?


(Hint: Calculate 18X 32\frac{1}{8}X\ 32  )

a)

45

b)


18\frac{1}{8}

c)

1

d)

4

45.

It is a systematic way of presenting data using a table.

a)

Class Interval

b)

Collecting Data

c)

Frequency Distribution Table

46.

The difference between the highest and lowest number in a data set.

a)

Range

b)

Class Size

c)

Class Interval

47.

The number of times the data value occurs is called ____________.

a)

Range

b)

Frequency

c)

Class Interval

48.

The table shows the scores of 40 students in their Math Quiz. What is the frequency of the scores from 21-25?

a)

9

b)

8

c)

15

49.

The table shows the scores of 40 students in their Math Quiz. What is the class interval of the given data?

a)

5

b)

6

c)

7

50.

The following are the scores obtained by a group of 30 grade 7 students in Science Quiz. What is the highest score?

a)

29

b)

25

c)

28

51.

The following are the scores obtained by a group of 30 grade 7 students in Science Quiz. What is the lowest score?

a)

8

b)

9

c)

10

52.

The following are the scores obtained by a group of 30 grade 7 students in Science Quiz. What is the range?

a)

20

b)

21

c)

22

53.

The following are the scores obtained by a group of 30 grade 7 students in Science Quiz. What is the frequency of the scores from 6-10?

a)

7

b)

4

c)

13

54.

According to the portion of the frequency table given, how many people have an MBA?

a)

9

b)

20

c)

60

d)

not enough information

55.

For how many weeks was the data collected?

a)

48

b)

50

c)

52

d)

54

56.

What is the range?

a)

average

b)

the middle

c)

biggest - smallest

d)

happening the most

57.

What type of Data Display is this?

a)

Line Plot

b)

Pie Chart

c)

Histogram

d)

Stem & Leaf Plot

58.

This is an example of a

a)

dot plot

b)

frequency table

c)

relative frequency table

d)

histogram

59.

How many observations were collected in this frequency table?

a)

20

b)

16

c)

10

d)

4

60.

According to the histogram, how many people are 10 or younger?

a)

4

b)

6

c)

10

d)

11

61.
How many students are between 60 and 63 inches tall?
a)
3
b)
0
c)
12
d)
7
62.

What do you call the given chart?

a)

histogram

b)

bar graph

c)

frequency polygon

d)

hisograph

63.

What is this table called?

a)

contingency table

b)

frequency distribution table

c)

frequency table

d)

2-way table

64.
Is a histogram the same as a bar graph?
a)
Yes, because they both use intervals.
b)
No, because a histogram displays numerical data while a bar graph displays categorical data.
c)
Yes, because they both use bars to display data.
d)
No, because a histogram displays categorical data while a bar graph displays numerical data.
65.

In a data display, this is a break, space, or opening between values where no value occurs.

a)

gap

b)

hole

c)

symmetric

d)

peak

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