Economic facts are known as ___________.
Policy
Data
Information
None of these
The word statistics is used in ___________ distinct senses.
Two
Three
Four
____________ helps in condensing mass data into a numerical measures.
Economics
Marketing
Statistics
____________ is the process through which human wants are satisfied.
Distribution
Production
Consumption
In the _____________ sense, statistics means numerical facts systematically collected.
Singular
Plural
Both 1 & 2
In the ___________ sense, statistics means the science of collecting,classifying and using statistics or a statistical fact.
_____________ refers to the market value of all final goods and services produced in a country in a given period.
GDP
NDP
National Income
Personal Income
___________ finds economic relationships using data and verifies them.
Market
The ___________ is the one who consumes the goods and services produced.
Producer
Consumer
Seller
____________ is summarised by calculating various numerical indices such as mean, variance and standard deviation.