____________ involves collection and organizing of data.
Economics
Policies
Statistics
Variables
____________ is summarised by calculating various numerical indices such as mean, variance and standard deviation.
Data
Information
Policy
Distribution
_____________ is a person or organization that produce goods or services for sale.
Producer
Consumer
Seller
Investor
____________ is the process through which human wants are satisfied.
Production
Consumption
Profit
The ___________ is the one who consumes the goods and services produced.
Distributor
Manufacture of goods by produces for the market is
The word statistics is used in ___________ distinct senses.
Two
Three
Four
Five
Division of the national income into wages, profits, rent and interest is
Demand
Economic facts are known as
Resources have _____________ uses.
Limited
Wants
Alternative
Scarce