AIC Ss1 Economics 3rd test/1st ter 2025/2026
  • 1. Economics can be described as a\an __________
A) philosophy
B) science
C) All of the above
D) art
  • 2. Ends in Economics means ___________
A) resources
B) end of anything
C) none of the above
D) human want or need or desire
  • 3. Scarce means ______
A) limited unavailable resources
B) limited available resources
C) unlimited available resources
D) unlimited unavailable resources
  • 4. _____________ is a basic tool for economic analysis.
A) Stove
B) Chair
C) Utensil
D) Table
  • 5. The father of economics is called _________
A) Vladimir Putin
B) Joe Biden
C) Barak Obama
D) Adams Smith
  • 6. The major branches of economics are ________
A) art and commercial
B) Micro and macro economics
C) science and social science
D) economics and science
  • 7. In Economics, the word 'means' means ________
A) resources
B) goods
C) services
D) all of the above
  • 8. Choice is selecting from alternatives
A) True
B) False
  • 9. Pie charts are measured in ______
A) sequences
B) percentage and degrees
C) All of the above
D) ratios
  • 10. A table must have a _____
A) title or heading
B) X axis
C) Y axis
D) Both X and Y axes
  • 11. There are ________ major types of bar charts.
A) six
B) four
C) seven
D) three
  • 12. _____________ are charts in which pictures or drawings of objects are used.
A) All of the above
B) Picturegraph
C) Picturesque
D) Pictograms
  • 13. ____________ is a graphical representation of frequency distribution.
A) Historical
B) Histogram
C) Histographic
D) Heroism
  • 14. The multiple bar chart is used when there are three or more variables.
A) True
B) Uncertain
C) None of the above
D) False
  • 15. ____________ is used to join or connect the highest and the lowest points of a group of data.
A) Line graph
B) Pie chart
C) bar charts
D) Pie graph
  • 16. The measure of central tendency is also known as ______
A) Uncertain
B) measure of average
C) measure of tendencies
D) measure of location
  • 17. __________ is systematic and orderly arrangement of information using rows and columns for presentation.
A) Bars
B) Graphs
C) Table
D) Chair
  • 18. The reward to land as a factor of production is ____
A) rent
B) wage
C) Profit
D) interest
  • 19. Which of the following is not true about land?
A) Land is heterogeneous
B) Land is mobile
C) The supply is fixed
D) t is subject to diminishing returns
  • 20. The reward which accrues to labour for participating in production is______
A) Interest
B) Profit
C) Bonus
D) wage
  • 21. Labour can be efficient when there are ___
A) government restrictions
B) adequate tools to work with
C) limited vacancies
D) high levels of employment
  • 22. The study of Economics becomes necessary because of the ____
A) large population size of the world
B) Scarcity of resources
C) need to satisfy every desire of man
D) opportunity cost of goods and services
  • 23. The sum of items divided by the number of items is the____
A) median
B) Mode Goods
C) frequency
D) mean
  • 24. Find the median of the following set of scores 8, 9, 6, 5, 10
A) 9
B) 6
C) 5
D) 8
  • 25. The reward to capital is ___
A) rent
B) commission
C) interest
D) Bank rate
  • 26. Land includes all except ____
A) Motor
B) atmosphere
C) forest
D) sea
  • 27. Arrangement of needs in order of priority is ____
A) ends
B) choice
C) None
D) scale of preference
  • 28. One of the following is not a type of bar chart
A) Component bar chart
B) Multiple bar chart
C) Simple bar chart
D) Compound bar chart
  • 29. The total degree of a pie chart is
A) 240°
B) 360°
C) 90°
D) 180°
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