One who buys goods to satisfy his own or other persons needs is called:
Producer
Consumer
Seller
Distributor
In statistics, the first step is:
diagrammatic and graphic representation
calculating various numerical indies
collection and organization of data
none of these
The ___________ is the one who consumes the goods and services produced.
None of these
Division of the national income into wages, profits, rent and interest is:
Production
Consumption
Distribution
Demand
Economic facts are known as:
Policy
Data
Information
Statistics
What is summarised by calculating various numerical indices such as mean, variance and standard deviation?
The census or sample techniques are used in:
Organisation of data
Analysis of data
Collection of data
Interpretation of data
Statistics plays an important role in:
Economics
Mathematics
Physics
All of these
_____________ 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
What are the facts and figures that are collected, analysed and summarized for presentation and interpretation?
