Math, asked by dgupta1507, 9 months ago

Explain any three importance of statistics in economics.

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Answered by prasun62

7

Step-by-step explanation:

The importance of statistics can be defined in different parts i.e. statistics in planning in economics, in business etc because statistical methods are used in every economic related areas. 1. ... It simplifies the complex situation of business. It helps to study about the situation of market demand, supply, price etc.

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