T.R. Jain and V.K. Ohri Solutions for Class 11 Statistics for Economics Chapter 1 Concept of Economics and Significance of Statistics in Economics, is regarded as an important concept to be studied thoroughly by the students. Here, we have provided T.R. Jain and V.K. Ohri Solutions for Class 11.
| Board | CBSE |
| Class | Class 11 |
| Subject | Statistics for Economics |
| Chapter | Chapter 1 |
| Chapter Name | Concept of Economics and Significance of Statistics in Economics |
| Number of questions solved | 05 |
| Category | T.R. Jain and V.K. Ohri |
Chapter 1 Concept of Economics and Significance of Statistics in Economics, explains the following mentioned concepts:
- Â Â Concepts of economics
- Â Â Economic and non-economic activities
- Â Â Meaning of statistics
- Â Â Statistical tools
Fill in the blanks with appropriate answers
Q.1 All quantitative information are ___________. (statistics/not statistics)
Answer: not statistics
Q.2 In __________ sense, statistics refers to the information in terms of numerical data. (singular/plural)
Answer: plural
Q.3 ____________ deals with the economic issues at the level of economy as a whole.                               (Microeconomics/Macroeconomics)
Answer: Microeconomics
Q.4 State whether the following statements are true or false.
- The data collected without any objective is known as number.  Answer : True
- All the numerical data is not statistics. Answer :Â True
- Rahul Dravid has a long bat. The statement is statistics. Answer :Â False
Choose the correct answer.
Q.5 What is the aggregate of data known as?
a. Statistics
b. Editing of data
c. Analysing of data
d. Collection of data
Answer:Â a. Statistics
Q.6 Which of the following is an economic activity?
a. Production
b. Consumption
c. Distribution
d. All of the above
Answer:Â d. All of the above
Q.7 What is the process of converting raw materials into goods known as?
a. Production
b. Saving
c. Investment
d. Exchange
Answer:Â a. Production
Q.8 What is saving?
Answer: Saving is that part of an income that is not utilised. It is an act of restraining oneself from utilisation.
Q.9 What is inferential statistics?
Answer: Inferential statistics refers to all such methods by which the conclusions are drawn relating to the universe or population on the basis of a given sample.
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