Economics True/False

True.
Explanation:
As at every stage of economic planning, there is a need for figures and statistical methods. Therefore, statistics is of no use to economics without data.

False.
Explanation:
As statistics approach to a subject is numerical. So, any fact to be called statistics must be numerically expressed.

True.
Reason: Statistics acts as a tool in the hands of economists that enables them to understand and evaluate an economic problem. The causes of a problem are identified through statistical tools and methods and policies and rectification measures are formulated accordingly.

True.
Explanation:
Because they produce so many food grains for the nation.

True.
Explanation:
As statistics is indispensable tool for a proper understanding of various economic problems.

True.
Explanation:
As GDP helps to know the total income comes from the production process.

True.
Reason: Statistics is all about data and helps economists to make interpretations and conclusions about the various issues or problems in a precise form. Statistical data reveals quantitative and qualitative facts related to data. Thus, if statistics does not provide data, then it is of no use to Economics.

False.
Explanation:
As household is only for consumption and not production.

False.
Explanation:
As we do social service for the welfare of the society hence it is a non-economic activity.

False.
Reason: By statistic we mean both qualitative and quantitative facts that are used in economics. Statistics reveals both quantitative and qualitative aspects of data.
For example: the statement “Literacy rate in India has gone up from 65.38% in 2001 to 74.4% in 2011” is a quantitative fact. But the chief characteristic of such information is that it describes the attributes of a group of people this is qualitative information which is often used in economics and other social sciences.

True.
Explanation:
As both of them plays an important role to raise the economic activity.

True.
Explanation:
As availability of resources is limited but the human es wants are unlimited.

True.
Explanation:
Because we earn money through buying and selling of resources and hence earning money is an economic activity.

True.
Explanation:
Because he gets salary against the same.

True.
Explanation:
As techniques of statistics are not so simple to be used by any layman.

False.
Explanation:
As the motive of economic activities is to earn profit only.