Statistics Verifies Relationships
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Question (English)
Whether relationships between economic factors exist or not can be verified by:
- Guessing
- Common observation only
- Applying statistical methods to data ✓ Correct
- Personal opinion
Explanation:
Correct Answer Explanation
Whether relationships exist between economic factors can be easily verified by applying statistical methods to their data.
Key Points:
- Economists can test assumptions about relationships using statistics.
- Examples: price-demand relationship, income-consumption relationship.
- Statistical techniques provide evidence-based verification.
Why Other Options Are Wrong
- A, B, D: Statistical methods provide systematic verification, not guessing or opinion.
📚 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.
