define statistics in singular and plural sense
Statistics is both science as well as an art.explain
scarcity causes economic problem. how ?
Problem of choice is unavoidable in the ordinary business of life. How?
1. Briefly explain the three distinct components of economics.
Merits and Demerits of Statistics. ( In points please)
Absence of scarcity would mean absence of economics. Explain with logical reasoning.
Statistical methods are no substitute for common sense. Comment.
"Statistics are numerical statements of facts , but all facts numerically stated are not statistics." Explained the above statement and point out which numerical statements of facts are statistics.
explain importance of statistics in economic planning
"there are three kinds of lies-lies, damned lies and Statistics."Explain the statement.
explain how scarcity is undercurrent of economics.
what is the importance of statistics in economics?
All numerical statement of facts are not statistics but all statement of numerical facts are statistics.Explain.
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