Importance of Statistics in Economics MCQs
Importance of Statistics in Economics MCQs
Class: CBSE Class 11
Subject: Economics
Section: Introduction to Statistics for Economics
Topic: Importance of Statistics in Economics
Subject: Economics
Section: Introduction to Statistics for Economics
Topic: Importance of Statistics in Economics
CBSE Board Examination – MCQ Practice
1. Statistics helps economists in:
Answer: B
Statistics provides numerical evidence that supports rational economic decisions.
Statistics provides numerical evidence that supports rational economic decisions.
2. Statistics is essential for:
Answer: D
All are major uses of statistics in economics.
All are major uses of statistics in economics.
3. National income estimates are prepared using:
Answer: B
Statistical data is required to measure national income.
Statistical data is required to measure national income.
4. Statistics helps in studying:
Answer: D
All economic phenomena are analyzed statistically.
All economic phenomena are analyzed statistically.
5. Budget preparation requires:
Answer: B
Government budgets rely on statistical estimates.
Government budgets rely on statistical estimates.
6. Statistics helps in comparison through:
Answer: D
All are statistical tools of comparison.
All are statistical tools of comparison.
7. Demand forecasting uses:
Answer: A
Statistical trends help forecast demand.
Statistical trends help forecast demand.
8. Statistics is useful to business for:
Answer: D
Businesses rely heavily on statistical analysis.
Businesses rely heavily on statistical analysis.
9. Economic planning requires:
Answer: D
Planning depends on statistical evidence.
Planning depends on statistical evidence.
10. Statistics measures:
Answer: D
All economic indicators are measured statistically.
All economic indicators are measured statistically.
11. Per capita income is calculated using:
Answer: B
It is a statistical measure of average income.
It is a statistical measure of average income.
12. Statistics converts data into:
Answer: D
Processed data aids understanding and decisions.
Processed data aids understanding and decisions.
13. Government uses statistics for:
Answer: D
All require statistical backing.
All require statistical backing.
14. Statistics helps reduce:
Answer: A
Data analysis reduces uncertainty.
Data analysis reduces uncertainty.
15. Price index numbers measure:
Answer: A
They track price level changes.
They track price level changes.
16. Statistics is important in economics because it deals with:
Answer: A
Economics relies on measurable data.
Economics relies on measurable data.
17. Statistics enables:
Answer: D
All are key functions.
All are key functions.
18. Statistics is indispensable for:
Answer: D
Research depends on statistical tools.
Research depends on statistical tools.
19. Statistics supports:
Answer: A
It promotes scientific decision‑making.
It promotes scientific decision‑making.
20. Economics without statistics is:
Answer: A
Statistical data is essential for economic analysis.
Statistical data is essential for economic analysis.