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