The act of making goods and services is called ____________.
Distribution
Consumption
Production
None of these
___________ finds economic relationships using data and verifies them.
Economics
Statistics
Market
_____________ refers to the way total output, income or wealth is distributed among the factors of production.
Statistics plays a vital role in ___________.
Data
Decision making
Both 1 & 2
Manufacture of goods by produces for the market is ____________.
Division of the national income into wages, profits, rent and interest is ____________.
Demand
Statistics summarises and presents a meaningful overall information about a mass of ____________.
Information
Policy
Statistics deals with __________.
Collection of data
Factors of production
Resources have _____________ uses.
Limited
Wants
Alternative
Purchase of goods by consumers to satisfy their various needs is ____________.