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What is economics ????? What is …

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What is economics ????? What is meaning, scope and importance of stastics in ecomonics..... ???????

Posted by Kunnu Raj 7 years, 2 months ago

CBSE > Class 11 > Economics

1 answers

Chesta Pawan Manchanda 7 years, 2 months ago

Economics means management of house in simple terms. Economics made up of two greek words aikos and onimos . Aikos means house and onimos means management and the literal meaning of economics is management of house. Scope of statistics: 1) subject matter to statistics ( discriptive and inferential statistics) 2) limitations of statistics 3) nature of statistics ( what is statistics science or arts) Importance of statistics:1) inter temporal and sectoral comparison 2) formulation of policies 3) quantitative expression 4) economic equilibrium 5) construction of economic theory and models

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