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Earn +20 ptsQ: Why were statistics developed?
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How do you measure how developed a country is?
By checking statistics such as GDP, employment, and poverty rates.
What are policies primarily based on?
Policies are developed on the basis of specific needs identified by gathering information. Their formulation requires drafting, consulting and review.
What is the importance of statistics in the field of economics?
importance of statistics in field of economics
How reliable are national income statistics as a means of comparing living standards between countries?
Some national statistics can be reliable is they have been adjusted. The World Health Organization adjusts their statistics so that their statistics are reliable.
Specific application of statistics in Economics?
specifis application of statistics to economics or business
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