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

Created with That Quiz — where a math practice test is always one click away.