Demographic Profile
The demographic profile of a country refers to the study of various characteristics of the population over a period of time. In other words
Economics
Demographic Transition
According to the theory of Demographic Transition, every country passes through the following three phases of demographic transition.
Indian Economy on the Eve of Independence
The Indian economy on the Eve of Independence was mainly an agrarian economy, employing nearly 85% of the population. However, despite…
4 Aspects of Economics
The study of economics has four broad aspects. The study of Consumption deals with the study of the behavior of consumers in different types of markets.
Why do we Need to Study Economics?
By studying economics, we can understand how an economy solves these central problems. We can thus say that economics is the study of the mechanisms used by an economy
Statistics in Plural Sense
In the plural sense, statistics refers to the systematic collection of numerical facts. It indicates information in terms of numbers or numerical data such as employment statistics and population statistics.
Statistics in Singular Sense
In the singular sense, statistics refers to the science of studying statistical methods. It indicates the techniques or methods of collecting, organizing, presenting, analyzing, and interpreting data.
5 Functions of Statistics
Statistics refers to the aggregates or averages that relate to certain inquiries or relationships. The following are some of the important functions of statistics.
6 Limitations of Statistics
Though widely used, statistics suffers from certain limitations. Statistics studies only variables that can be expressed as numerical values.
Scope of Statistics in Economics
Statistical tools and methods have wide applicability across various fields. The following are the Scope of Statistics. Business firms use statistics to study market fluctuations