Question

EXERCISE
Essay Type Questions
1. Explain the concept of Economics.
2. What is an activity? Explain the economic activities and non-economic activities with
examples
3. Explain the definition of economics given by Robbins.
4. Define statistics and point out its characteristics.
5. Examine critically the important definitions of statistics pointing out the one you think the
best.
6. Give the meaning of statistics and discuss its limitations.
7. Explain the importance of statistics in economics.
8. Discuss fully the importance of statistics as aid to business and commerce.
9. Discuss the use of statistics in economic planning with special reference to India.
10. Discuss the use of statistics in various spheres of human activity.
11. "Statistics affects everybody and touches life at many points." Explain.
12. Define statistics and discuss its functions.
Short Answer Questions​

Answer 1

Answer:

Economics as a social science studies how people perform economic activities and how they try to satisfy unlimited wants by the proper use of limited resources. Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.