CBSE Class 11 Economics VBQs Introduction

Very Short Answer Type Questions

Question. State the meaning of scarcity.
Answer :
Scarcity means shortage of goods and resources in relation to their demand.

Question. Give meaning of statistics in singular sense.
Answer :
In sigular sense statistics means statistical methods such as collection, classification, presentation, analysis and inter pretation of data.

Question. What do you mean by economic activity?
Answer : 
An economic activity means that activity which is based on use of scarce resources for satisfaction of human wants.

Question. Write one function of statistics.
Answer :
Statistics presents data is condensed form.

Question. Who is a producer?.
Answer :
Producer is one who produces / sell goods and services for the generation of income.

 

Statistics Chapter 1 Introduction
CBSE Class 11 Economics VBQs Introduction

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