Question

Answer the following questions :
(a)Write True or False :
Direct personal interview is statistical data. a source of primary
(b) State any one importance of index number.
(c) What is an intermediate product?
(d) What is market-demand schedule?
(e) Write True or False : Tax is a source of public revenue.
(f) What is legal tender money?

Answer 1

Answer:

a) true

b) false

c) false

dtrue

Answer 2

(a) True, direct personal interview is a source of primary statistical data.

•Because primary data means the raw data (data without modification or without disturbing the data) which has just been collected from the source and has not gone any kind of statistical treatment like sorting and tabulation. The term primary data may sometimes be used to refer to first hand information.

(b) One importance of index no.- Index numbers are a special type of average. Whereas mean, median and mode measure the absolute changes and are used to compare only those series which are expressed in the same units.

(c) Intermediate product- An intermediate product is a product that might require further processing before it is saleable to the ultimate consumer.

(d) Market demand curve- The market demand of a commod­ity is depicted on a demand schedule and a demand curve. They show the sum total of various quantities demanded by all the individuals at various prices.

(e) True, yes tax is a source of public revenue because the income of the government through all sources is called public income or public revenue.

(f) Legal tender money- Legal tender is the currency (paper money and coins) implemented by law to be valid for settling financial obligations.