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Ask QuestionPosted by Tanu Chaudhary 2 years, 9 months ago
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Posted by Aditi Sinha 2 years, 9 months ago
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Preeti Dabral 2 years, 9 months ago
Census Method:
- The Census covers individual/unit belonging to the population.
- Since all items are studied under census method, highest degree of accuracy is possible.
- As all items are studied under census method, this method is very expensive and involves a lot of money and efforts.
- The Census method is very time consuming as all items are studied.
- The Census method is suitable when items in the universe have diverse characteristics.
- This method is suitable when the area under investigation is relatively small.
Sample Method:
- The sample is smaller group selected from the population from which the relevant information would be sought.
- Since only representative samples are studied under sample method. It is less accurate. However errors can be easily detected and removed.
- As only few samples are studied under sample method, this method is comparatively less expensive.
- The Sample method is less time consuming as only samples are studied.
- The Sample method is suitable when items in the universe are homogeneous.
- This method is suitable when the area under investigation is large.
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Preeti Dabral 2 years, 10 months ago
The central problem of “for whom to produce” refers to the selection of the category of the people who will ultimately consume the goods., i.e, whether to produce goods for poorer and less rich or richer and less poor. Since resources are scarce in every economy, no society can satisfy all the wants of its people. Thus, a problem of choice arises. Goods are produced for those people who have the paying capacity. The capacity of people to pay for goods depends upon their level of income. It means this problem is concerned with the distribution of income among the factors of production(land, labour, capital and enterprise) who contribute to the production process. Income is distributed in the form of wages,rent, interest and profit.
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Preeti Dabral 2 years, 10 months ago
The differences between less than ogive and more than ogive are:
| Basis | Less than Ogive | More than Ogive |
| Based on | Less than ogive is based on less-than frequency distribution in which cumulative frequencies are represented against the upper limit of the class., i.e. the frequencies of all the preceding class-intervals are added to the frequency of a class. | More-than give is based is based on more than frequency distribution in which cumulative frequencies are represented against the lower limit of the class, i.e. frequencies of all the succeeding class intervals are added to the frequency of a class. |
| Slope | It has a positive slope. | It has a negative slope. |
Posted by Satabdi Das 2 years, 10 months ago
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Preeti Dabral 2 years, 10 months ago
The differences between less than ogive and more than ogive are:
| Basis | Less than Ogive | More than Ogive |
| Based on | Less than ogive is based on less-than frequency distribution in which cumulative frequencies are represented against the upper limit of the class., i.e. the frequencies of all the preceding class-intervals are added to the frequency of a class. | More-than give is based is based on more than frequency distribution in which cumulative frequencies are represented against the lower limit of the class, i.e. frequencies of all the succeeding class intervals are added to the frequency of a class. |
| Slope | It has a positive slope. | It has a negative slope. |
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