Question

What is d importance of statistical tools in economics

Answer 1

Answer:

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Microeconomics study how firms and households behave , international economics and political economy . Still , there are tools that are widely used across all branches of economics . They can be broadly defined as economic, mathematical and statistical.

In brief , get acquainted with the terms such as variables, ceteris , Paribus , functions, equations , identities , graph and diagrams, lines and curves, slopes, limits and derivatives , time series and so on . These are the basic tools of economic analysis.

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