Economics 4 Marks Question

There are two sources of Collection of data:
i. Primary source: Primary source of data implies Collection of data from its source of origin. It offers you first hand quantitative information relating to your statistical study.
ii. Secondary Source: It implies Collection of data from some agency or institution which already happens to have collected the data through statistical survey. It does not offer you first hand information relating to your statistical study. You are to rely on the information which is already existing.

 As per the question, year 2006 to 2011 and their respective profits are given Here, we take profit on the Y- axis and year on the X-axis. Before plotting the graph, we take a false baseline because the profit starts from 60 and there are very small fluctuations in the remaining values of profit, so we take a false base of 50 and then we take the scale as 1 cm = 5 (in thousands). The time series graph of given annual profit figures is shown below:

Spatial Classification: In spatial classification, data are classified according to geographical areas."
Example: State wise classification of production of food grains in India: State Production of food grains (in tonnes)

State	Production of food grains (in tons)
Orissa A. P U. P Assam	3,00,000 2,50,000 22,00,000 1,00,00,000

(ii) Chronological classification.
In this type of classification, the data are classified according to different time periods.
Example: Population of India for different time periods.
Profits of a business establishment over different years.

Year	Population (in crores)
1921 1931 1941 1951	24.8 27.3 31.8 35.6