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Question Practice

How does scarcity relate to the use of statistics in economics?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Economics
Statistics for Economics
Introduction
Question Bank

How does scarcity relate to th...

Single Answer MCQ
Q-00062611

How does scarcity relate to the use of statistics in economics?

1

Statistics can eliminate scarcity.

2

Scarcity leads to the need for data to manage resources.

3

Scarcity only concerns physical goods.

4

Statistics increases the availability of resources.

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