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