Economic Policies Definition
View Complete Answer & Explanation
Question (English)
In Economics, measures that help solve an economic problem are known as:
- Data
- Theories
- Policies ✓ Correct
- Statistics
Explanation:
Correct Answer Explanation
Measures that help solve an economic problem are known as policies.
Key Points:
- First, data is collected and the problem is analysed.
- Then, causes are identified.
- Finally, policies are formulated to solve the problem.
- No policies can be formulated without data on various factors.
Why Other Options Are Wrong
- A (Data): Economic facts, not solutions.
- B (Theories): Explanatory frameworks.
- D (Statistics): Tools for analysis.
📚 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.
