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How is statistics important in economics?

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How is statistics important in economics?

Posted by Sanjana Maurya 4 years, 4 months ago

CBSE > Class 11 > Economics

1 answers

Mahi Yadav 4 years, 4 months ago

The field of statistics deal with collection organisation, analysis, interpretation and presentation of data. Statistics plays a vital role in understanding economic data such as the relationship between the quantity and price, supply and demand, economic output, GDP, per capital income of nations etc

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