Economy, asked by pchmingahmingtea, 1 month ago

write the importance of statistics in economics

Answers

Answered by IamSpecial

1

The field of Statistics deals with collection, organisation, analysis, interpretation and presentation of data. Statistics plays a vital role in understanding economic data such as the relationship between the quantity and price, supply and demand, economic output, GDP, per capita income of nations etc.

Answered by ironman0416

1

Answer:

statistics are important in management of stocks in economics

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