Economic Data Definition
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Question (English)
Economic facts collected for studying economic problems are also known as:
- Economic theory
- Economic data ✓ Correct
- Economic policy
- Economic hypothesis
Explanation:
Correct Answer Explanation
Economic facts are also known as economic data.
Key Points:
- The purpose of collecting data is to understand and explain economic problems.
- Data helps identify causes behind economic problems.
- Without data, no analysis of economic problems is possible.
Why Other Options Are Wrong
- A (Theory): Theoretical framework, not facts.
- C (Policy): Measures to solve problems.
- D (Hypothesis): An assumption to be tested.
📚 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.
