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I
Question Practice

Which of the following situations demonstrates the application of statistics in economic decision-making?

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

Which of the following situati...

Single Answer MCQ
Q-00062613

Which of the following situations demonstrates the application of statistics in economic decision-making?

1

Justifying an uneducated guess about market trends.

2

Calculating the cost of living using past inflation rates.

3

Ignoring economic data when making policy.

4

Assuming all consumers react identically to price changes.

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