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

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

This Chapter 1 Concept of Economics and Significance of Statistics in Economics explains the below-mentioned concepts:

  • Concepts of Economics
  • Economic and Non-economics activities
  • Meaning if Statistics
  • Statistical Tools

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

Question 1

Pick an appropriate answer and fill in the blank.

    1. All quantitative information is ___________. (Statistics/not statistics)Answer: Not Statistics
    2. In __________ sense, statistics refers to information in terms of numerical data. (Singular/plural)

Answer: Plural

    1. ____________ deals with economics issues at the level of economy as a whole. (Microeconomics/Macroeconomics)

Answer: Microeconomics

Question 2

State whether the following statements are True or False.

  1. The data collected without any objective is called numbers. (True/False)Answer: True
  2. All the numerical data is not statistics. (True/False)Answer: True
  3. Rahul Dravid has a long bat. The statement is Statistics. (True/False)Answer: False

Question 3

Choose the correct answer

  1. The aggregate of data is called,
    • Statistics
    • Editing of data
    • Analysing of data
    • Collection of data

    Answer: Statistics

  2. Which of the following is an economic activity?
    • Production
    • Consumption
    • Distribution
    • All of these

    Answer: All of these

  3. The process of converting raw material into goods is called,
    • Production
    • Saving
    • Investment
    • Exchange

    Answer: Production

Question 4

  1. What is saving?

    Answer: Saving is that part of income that is not utilised.it is an act of restraining oneself from utilisation.

Question 5

  1. What is inferential statistics?

    Answer: Inferential statistics refers to all such methods by which conclusions are drawn relating to the universe or population on the basis of a given sample.

The above-provided solutions are considered to be the best solutions for Statistics for Economics Class 11 T.R. Jain and V.K. Ohri Solutions for Chapter 1- Concept of Economics and Significance of Statistics in Economics’. Stay tuned to BYJU’S to learn more and score well in the upcoming board examinations.

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