Statistics in Policy Formulation
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Question (English)
Formulation of plans and policies requires the knowledge of:
- Only past data
- Future trends ✓ Correct
- Only current data
- Historical events only
Explanation:
Correct Answer Explanation
Formulation of plans and policies requires the knowledge of future trends.
Key Points:
- Economic planners need to decide future production levels.
- Expected level of consumption must be known for planning.
- Statistical tools help predict based on past and recent data from surveys.
Why Other Options Are Wrong
- A, C, D: While past and current data are used, the goal is to understand future trends.
📚 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.
