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