Statistics as Indispensable Tool
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Question (English)
Statistics is described as an indispensable tool for an economist to:
- Create economic problems
- Understand an economic problem ✓ Correct
- Avoid data collection
- Replace common sense
Explanation:
Correct Answer Explanation
Statistics is an indispensable tool for an economist that helps him to understand an economic problem.
Key Points:
- Statistical methods help find causes behind economic problems.
- Uses both qualitative and quantitative facts.
- Once causes are identified, policies can be formulated.
- However, statistical methods are no substitute for common sense.
Why Other Options Are Wrong
- A: Statistics helps solve, not create problems.
- C: Statistics requires data collection.
- D: Statistics is no substitute for common sense.
📚 About this Topic — CH-1: Introduction
This multiple choice question is from CH-1: Introduction, NCERT Books, Statistics for Economics. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: Introduction to strengthen your preparation.
