Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsEconomics : An Introduction2 Marks
Question
State the importance of statistics in the economic representation.
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Answer
In economic representation there is an important of statistics by following ways:
To check the authenticity of principles of economics in practical life and for valid and effective presentation.To know the status and growth of an economy.
To make the cooperative analysis by collecting information of two or more variable like place, time, sector or other statistics.
To represents the economic study in short and in symbolic way, data is needed.To make logical analysis of any economic problem.
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