Economy, asked by shreyasyadav2034, 6 months ago

briefly explain how statistics helps to study economis

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Answered by SAMEERSAHIB

Answer:

Statistics for economics concerns itself with the collection, processing, and analysis of specific economic data. It helps us understand and analyze economic theories and denote correlations between variables such as demand, supply, price, output etc.

Answered by abhishekking25

Answer:

Statistics helps an economist to present economic facts or data in a precise and definite form. Statistics helps to condense or reduce the bulk of data. Eg: finding the average income of the population. Statistics facilitates forecasting and predicting of future.

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