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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) The mean
B) Mode
C) Meadian
D) Histogram
  • 2. Arithmetic mean is denoted with
A) n
B) y
C) x
D) £x
  • 3. 20,8,12,8,10,14,18,5
    The median of the following set of numbers is
A) 2
B) 11
C) 12
D) 10
  • 4. The mode is the
A) Highest number
B) Lowest number
C) Middle number
D) Most frequently occuring no
  • 5. One of the advantages of mean is
A) It is easy to determine
B) Arrangement of data is always tedious
C) It is affected by all values
D) It is difficult to calculate
  • 6. '£ ' means
A) Multiplication of
B) Sum of
C) Division of
D) Cube of
  • 7. In drawing ______, there is no gap in between the bars
A) Pictogram
B) Line graph
C) Pie chart
D) Histogram
  • 8. 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
  • 9. In ____________, pictures of objects are used to represent items in a given data
A) Histogram
B) Pictogram
C) Pie chart
D) Bar chart
  • 10. Circle is used to represent
A) Line graph
B) Histogram
C) Bar chart
D) Pie chart
  • 11. Economics can be described as a\an __________
A) All of the above
B) science
C) art
D) philosophy
  • 12. Ends in Economics means ___________
A) none of the above
B) end of anything
C) resources
D) human want or need or desire
  • 13. Scarce means ______
A) limited unavailable resources
B) unlimited available resources
C) unlimited unavailable resources
D) limited available resources
  • 14. _____________ is a basic tool for economic analysis.
A) Utensil
B) Chair
C) Stove
D) Table
  • 15. The father of economics is called _________
A) Barak Obama
B) Adams Smith
C) Joe Biden
D) Vladimir Putin
  • 16. The major branches of economics are ________
A) economics and science
B) Micro and macro economics
C) art and commercial
D) science and social science
  • 17. In Economics, the word 'means' means ________
A) services
B) resources
C) all of the above
D) goods
  • 18. Choice is selecting from alternatives
A) False
B) True
  • 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) X axis
C) Y axis
D) title or heading
  • 21. There are ________ major types of bar charts.
A) six
B) three
C) seven
D) four
  • 22. _____________ are charts in which pictures or drawings of objects are used.
A) Picturesque
B) All of the above
C) Picturegraph
D) Pictograms
  • 23. ____________ is a graphical representation of frequency distribution.
A) Heroism
B) Histogram
C) Histographic
D) Historical
  • 24. The multiple bar chart is used when there are three or more variables.
A) Uncertain
B) None of the above
C) False
D) True
  • 25. ____________ is used to join or connect the highest and the lowest points of a group of data.
A) bar charts
B) Pie graph
C) Pie chart
D) Line graph
  • 26. The measure of central tendency is also known as ______
A) measure of average
B) measure of tendencies
C) measure of location
D) Uncertain
  • 27. __________ is systematic and orderly arrangement of information using rows and columns for presentation.
A) Chair
B) Graphs
C) Table
D) Bars
  • 28. The reward to land as a factor of production is ____
A) Profit
B) rent
C) interest
D) wage
  • 29. 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
  • 30. The reward which accrues to labour for participating in production is______
A) Interest
B) Bonus
C) Profit
D) wage
  • 31. Labour can be efficient when there are ___
A) limited vacancies
B) adequate tools to work with
C) high levels of employment
D) government restrictions
  • 32. The study of Economics becomes necessary because of the ____
A) need to satisfy every desire of man
B) large population size of the world
C) opportunity cost of goods and services
D) Scarcity of resources
  • 33. The sum of items divided by the number of items is the____
A) mean
B) frequency
C) Mode Goods
D) median
  • 34. Find the median of the following set of scores 8, 9, 6, 5, 10
A) 8
B) 6
C) 5
D) 9
  • 35. The reward to capital is ___
A) commission
B) interest
C) Bank rate
D) rent
  • 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) scale of preference
C) ends
D) choice
  • 38. All of these people gave definition of economics except
A) Adam Smith
B) Alfred Marshall
C) Alvan Ikoku
D) Lionel Robbins
  • 39. The total degree of a pie chart is
A) 180°
B) 90°
C) 360°
D) 240°
  • 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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