Statistics can only deal with quantitative data.

1

(a) False

(b) True

Statistics solves economic problems

1

(a) True

(b) False

Statistics is of no use to Economics without data.

1

(a) False

(b) True

Make a list of activities that constitute ordinary business of life. Are these Economic Activities?

3

(a)

The Government and Policy makers use statistical data to formulate suitable policies of Economics Development. Illustrate with two examples.

3

(a)

You have unlimited wants and limited resources to satisfy them. Explain by giving examples

3

(a)

How will you choose wants to be satisfied?

3

(a)

What are your reasons for studying Economics?

3

(a)

Statistical Methods are no substitute for common sense. Comment.

3

(a)