STATISTICS FOR ECONOMICS CLASS 11 EPUB

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STATISTICS FOR ECONOMICS CLASS 11 EPUB

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STATISTICS FOR ECONOMICS CLASS 11 EPUB


Economics is divided statistics for economics class 11 three parts: In consumption, we study wants, their origin, nature and characteristics and the laws governing them. It refers to all activities which are undertaken to produce goods and services for generation of income and satisfaction of wants.

Economic activity which studies how income generated from the production process is distributed among the factors of production. But even this estimation must have a reasonable degree of accuracy to make sense.

The purpose of collecting data should be decided in advance. The purpose should be clearly defined. Otherwise, collected data will be of no use.

STATISTICS FOR ECONOMICS CLASS 11 EPUB

Suppose, we want to compare the performance of students at secondary level of National Institute of Open Schooling in one subject or more. We must specify the subjects and the year for which comparison is being carried out before collecting data.

Every individual needs a certain number of things. He spends first on necessities, then on comforts and luxuries, which depend on his income. We discover how different groups spend their income on different items of consumption with the help of statistics.

STATISTICS FOR ECONOMICS CLASS 11 EPUB

The progress of production every year can easily be measured by statistics. The comparative study of productivity of various elements of production e.

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The statistics of production are very helpful for adjustment of demand and supply. The CBSE has sent out circulars to all the CBSE affiliated schools on 1st October and have intimated the schools about the process statistics for economics class 11 be followed by the schools for registering their class 9th and class 11th students for the board This event is held once in two years in which participants from all states in India come statistics for economics class 11 to showcase their skills in a wide variety of activities.

The state governments provide support to their respective participants.

Class 11th Statistics for Economics

We discover how different groups spend their income on different items of consumption with the help of statistics. The progress of production every year can easily be measured by statistics.

The comparative study of productivity of various elements of production e. The statistics of production are very helpful for adjustment of demand and supply.

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Production is based on national and international demand. A producer needs statistics for deciding the cost of production and selling price so that he can study competition and demand of commodity in a market.

The law of price determination and cost price which are bared on the various market conditions and demand and supply can be studied with the help of statistics. Statistics are helpful statistics for economics class 11 calculation of national income in the field of distribution statistical methods are used in solving the problem of the distribution of national income.

Various problems arise due to unequal distribution of wealth and national income and are solved with the help of statistical data. Limitation of statistics i It does not study the qualitative aspect of a problem: Statistics studies only the facts which can be measured quantitatively but qualitative phenomena like statistics for economics class 11, intelligence, poverty etc.