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Meghna Thapar 5 years, 6 months ago
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Land resources are the raw materials in the production process. These resources can be renewable, such as forests, or nonrenewable such as oil or natural gas.There are four basic types of economic resources in the world, which are land, labour, capital, and entrepreneurship. Land comprises all natural resources and supply which we require as a fundamental to the production of all goods. Labour is a measure of work done by human beings.
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Rani Mishra ??? 5 years, 6 months ago
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Yogita Ingle 5 years, 6 months ago
On my visit to a bus stand, I can witness the following activities:
1. Buses of various destinations are waiting for its passengers.
2. At the bus stand there is a big queue for the purchase of tickets.
3. People who have taken a halt are taking refreshments in a canteen.
3. The bus conductors are shouting for people to board the bus.
4. Hawkers are roaming to sell their items.
5. Beggars are busy with their begging.
6. There is too much hustle bustle in the area.
Out of these, the following can be called economic activity:
1. Hawkers selling their items.
2. People are purchasing tickets.
3. Beggars asking for money.
4. The bus conductors asking people to board the bus.
Posted by Utkarsh Singh 5 years, 6 months ago
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Yogita Ingle 5 years, 6 months ago
Following are the functions of statistics :
I. Presentation of facts in figures :Statistics presents the various facts and figures, in such a manner so that various complicated facts become easy, brief and concrete and they may be understood easily. In it, facts are presented through diagrams and graphs, which are useful to a common man also.
2. Establishment of relationship : With the help of statistical methods (correlation), relationship between two or more facts may be established. It may be find out that these facts have any relationship or not, what is the direction and degree of relationship between them etc.
3. Comparison : Two or more effects may be compared with the help of statistics. Various averages, rates, percentages and coefficients are used for this purpose.
4. Interpretation of problems : With the help of statistical devices, interpretation of various problems may be done. For example by collecting the data of unemployment among educated persons, the nature of employment problems among them may be interpreted.
5. Formation of laws and principles of other sciences : Statistics helps to other social and natural sciences in forming the laws and with its help the various rules and principles of those sciences may be tested.
6. Helpful in deciding the policy : With the help of statistics various policy decisions may be taken logically and successfully. For example price policy, export-import policy etc.
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Yogita Ingle 5 years, 7 months ago
| Meaning | Questionnaire refers to a technique of data collection which consist of a series of written questions along with alternative answers. | Schedule is a formalized set of questions, statements and spaces for answers, provided to the enumerators who ask questions to the respondents and note down the answers. |
| Filled by | Respondents | Enumerators |
| Response Rate | Low | High |
| Coverage | Large | Comparatively small |
| Cost | Economical | Expensive |
| Respondent's identity | Not known | Known |
| Success relies on | Quality of the questionnaire | Honesty and competence of the enumerator. |
| Usage | Only when the people are literate and cooperative. | Used on both literate and illiterate people. |
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