what are the importance of statistics in economics
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Answered by
2
Hi friend,
-»Economics is defined as the study of how people behave with regard to the production and consumption of goods.
-»As a social science, economics attempts to describe trends in consumer markets, such as wealth acquisition and transfer.
HOPE THIS HELPS YOU:-))
-»Economics is defined as the study of how people behave with regard to the production and consumption of goods.
-»As a social science, economics attempts to describe trends in consumer markets, such as wealth acquisition and transfer.
HOPE THIS HELPS YOU:-))
Answered by
3
Hey u know, the vast amount of datas like:-
Population growth, business development records, economic growth , poverty charts .
not only this , these statistics help the economist to give the correct amount of product values , prices ,mean, etc.
U know, it will be very difficult to understand growth , development and production without the use of statistics.
Got it !!
Population growth, business development records, economic growth , poverty charts .
not only this , these statistics help the economist to give the correct amount of product values , prices ,mean, etc.
U know, it will be very difficult to understand growth , development and production without the use of statistics.
Got it !!
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