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) art
B) philosophy
C) science
D) All of the above
  • 2. Ends in Economics means ___________
A) end of anything
B) human want or need or desire
C) none of the above
D) resources
  • 3. Scarce means ______
A) unlimited available resources
B) unlimited unavailable resources
C) limited available 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) Joe Biden
C) Barak Obama
D) Adams Smith
  • 6. The major branches of economics are ________
A) economics and science
B) art and commercial
C) Micro and macro economics
D) science and social science
  • 7. In Economics, the word 'means' means ________
A) services
B) all of the above
C) goods
D) resources
  • 8. Choice is selecting from alternatives
A) False
B) True
  • 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) X axis
D) Both X and Y axes
  • 11. There are ________ major types of bar charts.
A) four
B) seven
C) three
D) six
  • 12. _____________ are charts in which pictures or drawings of objects are used.
A) Pictograms
B) Picturegraph
C) Picturesque
D) All of the above
  • 13. ____________ is a graphical representation of frequency distribution.
A) Historical
B) Heroism
C) Histogram
D) Histographic
  • 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) bar charts
B) Pie graph
C) Line graph
D) Pie chart
  • 16. The measure of central tendency is also known as ______
A) measure of location
B) Uncertain
C) measure of average
D) measure of tendencies
  • 17. __________ is systematic and orderly arrangement of information using rows and columns for presentation.
A) Table
B) Chair
C) Graphs
D) Bars
  • 18. The reward to land as a factor of production is ____
A) wage
B) rent
C) interest
D) Profit
  • 19. Which of the following is not true about land?
A) The supply is fixed
B) t is subject to diminishing returns
C) Land is heterogeneous
D) Land is mobile
  • 20. The reward which accrues to labour for participating in production is______
A) wage
B) Interest
C) Profit
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) 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) 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) 9
D) 6
  • 25. The reward to capital is ___
A) rent
B) Bank rate
C) interest
D) commission
  • 26. Land includes all except ____
A) Motor
B) forest
C) atmosphere
D) sea
  • 27. Arrangement of needs in order of priority is ____
A) None
B) ends
C) scale of preference
D) choice
  • 28. One of the following is not a type of bar chart
A) Component bar chart
B) Compound bar chart
C) Multiple bar chart
D) Simple bar chart
  • 29. The total degree of a pie chart is
A) 180°
B) 90°
C) 360°
D) 240°
Created with That Quiz — where a math practice test is always one click away.