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SS1 Economics 1st term exam 2025/26
Contributed by: College
  • 1. The average of a series of figures or values is known as
A) Meadian
B) The mean
C) Histogram
D) Mode
  • 2. Arithmetic mean is denoted with
A) £x
B) n
C) y
D) x
  • 3. 20,8,12,8,10,14,18,5
    The median of the following set of numbers is
A) 12
B) 10
C) 2
D) 11
  • 4. The mode is the
A) Lowest number
B) Highest number
C) Most frequently occuring no
D) Middle number
  • 5. One of the advantages of mean is
A) It is affected by all values
B) It is easy to determine
C) Arrangement of data is always tedious
D) It is difficult to calculate
  • 6. '£ ' means
A) Cube of
B) Sum of
C) Multiplication of
D) Division of
  • 7. In drawing ______, there is no gap in between the bars
A) Pie chart
B) Histogram
C) Pictogram
D) Line graph
  • 8. One of the following is not a type of bar chart
A) Simple bar chart
B) Compound bar chart
C) Component bar chart
D) Multiple bar chart
  • 9. In ____________, pictures of objects are used to represent items in a given data
A) Pie chart
B) Bar chart
C) Histogram
D) Pictogram
  • 10. Circle is used to represent
A) Line graph
B) Bar chart
C) Histogram
D) Pie chart
  • 11. Economics can be described as a\an __________
A) science
B) All of the above
C) philosophy
D) art
  • 12. Ends in Economics means ___________
A) resources
B) human want or need or desire
C) none of the above
D) end of anything
  • 13. Scarce means ______
A) limited unavailable resources
B) limited available resources
C) unlimited available resources
D) unlimited unavailable resources
  • 14. _____________ is a basic tool for economic analysis.
A) Chair
B) Table
C) Utensil
D) Stove
  • 15. The father of economics is called _________
A) Adams Smith
B) Vladimir Putin
C) Joe Biden
D) Barak Obama
  • 16. The major branches of economics are ________
A) art and commercial
B) Micro and macro economics
C) economics and science
D) science and social science
  • 17. In Economics, the word 'means' means ________
A) all of the above
B) resources
C) services
D) goods
  • 18. Choice is selecting from alternatives
A) True
B) False
  • 19. Pie charts are measured in ______
A) All of the above
B) sequences
C) percentage and degrees
D) ratios
  • 20. A table must have a _____
A) Both X and Y axes
B) title or heading
C) X axis
D) Y axis
  • 21. There are ________ major types of bar charts.
A) three
B) six
C) four
D) seven
  • 22. _____________ are charts in which pictures or drawings of objects are used.
A) Pictograms
B) Picturegraph
C) Picturesque
D) All of the above
  • 23. ____________ is a graphical representation of frequency distribution.
A) Historical
B) Histogram
C) Histographic
D) Heroism
  • 24. The multiple bar chart is used when there are three or more variables.
A) None of the above
B) Uncertain
C) False
D) True
  • 25. ____________ is used to join or connect the highest and the lowest points of a group of data.
A) Pie chart
B) Pie graph
C) bar charts
D) Line graph
  • 26. The measure of central tendency is also known as ______
A) measure of tendencies
B) measure of location
C) measure of average
D) Uncertain
  • 27. __________ is systematic and orderly arrangement of information using rows and columns for presentation.
A) Graphs
B) Bars
C) Table
D) Chair
  • 28. The reward to land as a factor of production is ____
A) wage
B) rent
C) Profit
D) interest
  • 29. Which of the following is not true about land?
A) The supply is fixed
B) Land is heterogeneous
C) t is subject to diminishing returns
D) Land is mobile
  • 30. The reward which accrues to labour for participating in production is______
A) Interest
B) wage
C) Profit
D) Bonus
  • 31. Labour can be efficient when there are ___
A) high levels of employment
B) limited vacancies
C) government restrictions
D) adequate tools to work with
  • 32. The study of Economics becomes necessary because of the ____
A) Scarcity of resources
B) need to satisfy every desire of man
C) opportunity cost of goods and services
D) large population size of the world
  • 33. The sum of items divided by the number of items is the____
A) frequency
B) median
C) Mode Goods
D) mean
  • 34. Find the median of the following set of scores 8, 9, 6, 5, 10
A) 9
B) 8
C) 6
D) 5
  • 35. The reward to capital is ___
A) Bank rate
B) rent
C) commission
D) interest
  • 36. Land includes all except ____
A) sea
B) atmosphere
C) forest
D) Motor
  • 37. Arrangement of needs in order of priority is ____
A) None
B) ends
C) choice
D) scale of preference
  • 38. All of these people gave definition of economics except
A) Alfred Marshall
B) Adam Smith
C) Alvan Ikoku
D) Lionel Robbins
  • 39. The total degree of a pie chart is
A) 90°
B) 240°
C) 360°
D) 180°
  • 40. The type of bar chart used when the data involved are of two variables is
A) Simple bar chart
B) Compound bar chart
C) Component bar chart
D) Multiple bar chart
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