FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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State whether the following statement is true or false:” statistics is of no use to economics without data.”
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -(iii) Statistics is of no use to Economics without data. Answer: (i) False Statistics deals with both quantitative data as well as with qualitative data.
Detailed explanation-2: -Statistics help Economists to understand problems on production, distribution and consumption. Statistics of consumption describes the way in which people from different income group spend their income. It helps in understanding standard of living and taxable capacity of people.
Detailed explanation-3: -Statistics acts as a tool in the hands of economists that enables them to understand and evaluate an economic problem.
There is 1 question to complete.