NCERT Class 11 Statistics for Economics Chapter 1 Introduction Extra Questions and Answers
Class 11 Statistics for Economics Chapter 1 Extra Inside Questions and Answers – Introduction. Here in this Page Class XI Students can Learn Extra Questions & Answer 1st Chapter Statistics for Economics fully Inside.
We Provided Here Introduction Statistics for Economics Chapter 1 Long Answer Type Question, MCQ Questions & Answer, Short Answer Type Questions (2 or 3 marks), and Very Short answer Type Question (1 marks) Solution.
Class 11 Statistics for Economics Chapter 1 Inside based Question
Statistics for Economics Chapter 1 Introduction Class 11 Inside 5 Marks, 3 marks, 2 Marks & And 1 Marks Important Questions and Answers.
1.) Give the definition of i. Employees ii. Employer .
Ans – i.) When you are in a job, working for some other person, and you get paid for it (you may be employed by somebody who pays you wages or a salary), you are called an employee.
- When you employ somebody, giving them a wage, you are an employer.
2.) What is mean by ordinary business of life?
Ans -In all these cases you will be calledgainfully employed in an economic activity. Economic activities are ones that are undertaken for a monetary gain. This is what economists mean byordinary business of life.
3.) What is means by consumer?
Ans -When you buy goods (you maywant to satisfy your own personalneeds or those of your family or thoseof any other person to whom you wantto make a gift) you are calleda consumer.
4.) What is mean by producer?
Ans -When you produce goods (you maybe a farmer or a manufacturing
company),or provide services (you may be a doctor, porter, taxi driver ortransporter of goods) you are called aproducer.
5.) Explain the problem scarcity with example.
Ans – The human wants are unlimited but the resources are limited. This is problem of scarcity. Scarcity is the root of all economic problems. Had there been no scarcity,there would have been no economic problem. And you would not have studied Economics either. In our daily life, we face various forms of scarcity.The long queues at railway booking counters, crowded buses and trains,shortage of essential commodities, the rush to get a ticket to watch a new film,etc., are all manifestations of scarcity.We face scarcity because the things that satisfy our wants are limited in availability.
6.) Explain the study of consumption, production, distribution.
Ans -Economics is often discussed in three parts: consumption,production and distribution.
i.) We want to know how the consumer decides, given his income and many alternative goods to choose from, what to buy when he knows the prices. This is the study of Consumption.
ii.) We also want to know how the producer, similarly, chooses what and how to produce for the market. This is the study of Production.iii. Finally, we want to know how the national income or the total income arising from what has been producedin the country (called the Gross Domestic Product or GDP) is distributed through wages (and salaries), profits and interest (We will leave aside here income from international trade and investment).
This is the study of Distribution.
1.) When you are in a job, working for some other person, and you get paid for it you are called an
(a)employee.
(b) employment
(c) employer
(d) professional
Ans – options (a)
In case you are missed :- NCERT Extra Questions for Collection of Data
2.) When you employ somebody, giving them a wage, you are an
(a) employee
(b) employer
(c) employment
(d) professional
Ans – options (b)
3.) When you sell goods to makea profit for yourself you are called
(a) customer
(b) consumer
(c) seller
(d)None of the above
Ans -options (c)
4.) True or False The resources which the producers have are unlimited and also have alternative uses.
(a) True
(b) False
Ans – options (b)
5.) Economics includes the activities.
(a) Consumption
(b) production
(c) distribution
(d)All of the above
Ans – options (d)
In case you are missed :- NCERT Extra Questions for Organisation of Data