What this chapter is about
Economics is closely connected with the everyday activities of human life. Every individual makes choices related to buying, selling, earning, saving, producing, and consuming goods and services. These activities form the foundation of economic study. At the same time, statistics helps economists understand these activities through data, measurements, comparisons, and analysis.
This chapter explains:
Learning objectives
- 1Explain economics and the Role of Statistics
- 2Explain economic Activities
- 3Explain types of Economic Participants
- 4Explain consumer
- 5Explain producer
- 6Explain employee
Your learning path
Key terms
49Concepts
0Formulae
12Minutes