Write three sentences highlighting the importance of statistics in economics
Asked by admin @ in Economy viewed by 958 People
Write three sentences highlighting the importance of statistics in economics
Asked by admin @ in Economy viewed by 958 People
Write three sentences highlighting the importance of statistics in economics
Answered by admin @
Answer:
Statistical data are useful to forecast the changes in the factors which influence other factors. This information enables economists to formulate polices and suggestions to overcome the problem. Formulation of policies: Statistical data is essential for formulating policies of economic development.
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