T.R. Jain and V.K. Ohri Solutions for Class 11 Statistics for Economics Chapter 1 Definition of Economics and the Importance of Statistics in Economics is a crucial concept that students should study thoroughly. T.R. Jain and V.K. Ohri Solutions for Class 11 are available here.
| Board | CBSE |
| Class | Class 11 |
| Subject | Statistics for Economics |
| Chapter | Chapter 1 |
| Chapter Name | Concept of Economics and Significance of Statistics in Economics |
| Number of questions solved | 05 |
| Category | T.R. Jain and V.K. Ohri |
Fill in the blanks with appropriate answers
Q.1 All quantitative information are ___________. (statistics/not statistics)
Answer: not statistics
Q.2 In __________ sense, statistics refers to the information in terms of numerical data. (singular/plural)
Answer: plural
Q.3 ____________ deals with the economic issues at the level of economy as a whole. (Microeconomics/Macroeconomics)
Answer: Microeconomics
Q.4 State whether the following statements are true or false.
- The data collected without any objective is known as number. Answer : True
- All the numerical data is not statistics. Answer : True
- Rahul Dravid has a long bat. The statement is statistics. Answer : False
Choose the correct answer.
Q.5 What is the aggregate of data known as?
a. Statistics
b. Editing of data
c. Analysing of data
d. Collection of data
Answer: a. Statistics
Q.6 Which of the following is an economic activity?
a. Production
b. Consumption
c. Distribution
d. All of the above
Answer: d. All of the above
Q.7 What is the process of converting raw materials into goods known as?
a. Production
b. Saving
c. Investment
d. Exchange
Answer: a. Production
Q.8 What is saving?
Answer: Saving is that part of an income that is not utilised. It is an act of restraining oneself from utilisation.
Q.9 What is inferential statistics?
Answer: Inferential statistics refers to all such methods by which the conclusions are drawn relating to the universe or population on the basis of a given sample.
T.R. Jain and V.K. Ohri Solutions for Chapter 1: Concept of Economics and Significance of Statistics in Economics are considered to be the best for Statistics for Economics Class 11 T.R. Jain and V.K. Ohri Solutions for Chapter 1: Concept of Economics and Significance of Statistics in Economics. Stay tuned to MNS EdTech for more details and to prepare for the upcoming board exams.
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