Introduction To Statistics

Question 1

If you are in a job, you are working for payment, you are called

Answer 1

An employee

Question 2

Scarcity is the root of

Answer 2

All economic problems

Question 3

The long queues at a railway station, bus stand, cinema theatres are all manifestation of

Answer 3

Scarcity

Question 4

Alternative uses of resources gives rise to the problem of

Answer 4

Choice

Question 5

This subject is mainly around the study of mankind in the ordinary business of life.

Answer 5

Economics

Question 6

When you buy goods, you are called ____________

Answer 6

Consumer

Question 7

When you produce goods, you are called ____________

Answer 7

Producer

Question 8

When you sell goods for profit you are called _____________

Answer 8

Seller

Question 9

When you sell goods for profit you are called _____________

Answer 9

Seller

Question 10

Resources are limited but wants are _____________

Answer 10

Unlimited

Question 11

Data, numbers, equations are being used in ______________

Answer 11

Statistics

Question 12

Data, numbers, equations are being used in ______________

Answer 12

Statistics

Question 13

Generally in which 3 parts economics are discussed?

Answer 13

Consumption, production and distribution

Question 14

Mention the difference between employee and employer

Answer 14

When you are in a job, working for some other person and you get paid for it, you are called employee

When you employ someone, giving them wage you are an employer

Question 15

Mention any two scarcities in your daily life.

Answer 15

water and food are the scarcities we see in our daily life.

Question 16

Write any two resources which have alternative uses

Answer 16

Water and land are the two resources which have alternative uses