Statistics Quiz-1

Statistics Quiz-1

Statistics Quiz-1

Statistics Quiz-1

Question: What is meant by a consumer?

Answer: A person who buys an item to meet his needs is called a ‘consumer’.

Question: Write the name of an economist who is one of the founders of modern economics.

Answer: Alfred Marshall.

Question: What do you mean by a seller?

Answer: An individual or organization is said to be a ‘seller’ when it sells goods for profit.

Question: What does producer mean?

Answer: A person who produces goods or renders service is called a ‘producer’.

Question: What is meant by economic activity?

Answer: The work which is done for the purpose of earning economic profit is called economic work.

Question: What does production mean?

Answer: Production is the creation of the usefulness of an object or goods.

Question: What is a service provider?

Answer: When a person is engaged in a job and works for another and receives a wage or salary for it, then he is called a ‘service provider’.

Question: What is meant by want?

Answer: Adding less content than what the consumer wants is called ‘want’.

Question: What is the root of all problems?

Answer: Want or rarity is the root of all problems.

Q: What do you mean by data?

Answer:  Numerical economic events are called data.

Question: What is meant by principle in economics?

Answer: The methods that help in solving economic problems are called ‘principles’ in economics.

Question: Statistics looks at quantitative data only. (Correct or Incorrect)

Answer: Correct.

Question: Statistics solves economic problems. (Correct or Incorrect):

Answer: Incorrect.

Question: There is no need for statistics in economics without information. (True or False)

Answer: True. Statistics Quiz-1

Question: The father of modern economics is Marshall/ Chameleon/  Adam Smith/  Robbins. (Choose the Correct answer)

Answer: Adam Smith.

Question: The author of the book ‘An Inquiry into the Nature and Causes of Wealth of Nations’ is Marshall/ Adam Smith/Robbins. (Choose the correct answer)

Answer: Adam Smith. Statistics Quiz-1

Question: Which of the following is included in economics-sunlight/ River water/ Mother’s care for children/ oil refinery? (Choose the correct answer)

Answer: oil refinery.

Question: Which is not within the realm of economics – drinking alcohol/hospitalized care/Mother’s care for the child. (Choose the correct answer)

Answer: Mother’s care for the child.

Question: Who calls the ‘applied science of production and distribution of wealth’?

Answer:  Adam Smith. Statistics Quiz-1

Question: Give an example of non-economic activity.

Answer: mother’s care of a child.

Question: Which economist emphasized material welfare in his definition?

Answer: Alfred Marshall.

Question: Write the definition of economics given by Professor Robbins.

Answer: The definition of Economics given by Professor Robbins is ”Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.”

Question: What is Primary information?

Answer: The information that is collected for the first time is called ‘Primary Information’ or ‘Key Information.

Question: What is secondary information?

Answer: Information that is previously collected by an individual or organization and used for a second or more time is called ‘secondary information’.

Question: What are the types of information and what are they?

Answer: There are two types of information. Such as – Primary Information and Secondary Information.

Question: What does a survey mean?

Answer: Survey refers to the gathering of information from an individual or organization.

Question: Who is the investigator?

Answer: An investigator is a person who plans and executes various information about a subject in order to study it properly.

Question: What is a respondent?

Answer: A  person who answers a question of an investigator is called a respondent.

Question: What do you mean by representative sample?

Answer: A ‘representative sample’ is a part of a group that needs to be studied which is usually smaller than the group although it represents the whole group.

Question: What is a variable?

Answer: In Statistical science, the sign of a person, object or event is called a ‘variable’.

Question: What is an isolated variable?

Ans: Variables that can be taken only by an individual or variables whose values ​​are obtained as a result of calculation are called ‘isolated variables’.

Question: What is meant by an interview schedule?

Answer: When an enumerator collects the information from the testimony of the reporter and adds it to the list, is called an ‘Interview Schedule’. 0 0 0

Statistics Quiz-1

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