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e. Economic statistics is a topic in applied statistics and applied economics that concerns the collection, processing, compilation, dissemination, and analysis of economic data. It is closely related to business statistics and econometrics. [1] It is also common to call the data themselves "economic statistics", but for this usage, "economic ...
Statistics (from German: Statistik, orig. "description of a state, a country") [1][2] is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. [3][4][5] In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a ...
Economics often analyses systems of equations and inequalities, such as supply and demand hypothesized to be in equilibrium. Consequently, the field of econometrics has developed methods for identification and estimation of simultaneous equations models. These methods are analogous to methods used in other areas of science, such as the field of ...
Statistics, in the modern sense of the word, began evolving in the 18th century in response to the novel needs of industrializing sovereign states. In early times, the meaning was restricted to information about states, particularly demographics such as population. This was later extended to include all collections of information of all types ...
Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [2] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...
Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, business economics is concerned with the application of economic theory to ...
v. t. e. Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) [ 1 ][ 2 ] is a social science that studies the production, distribution, and consumption of goods and services. [ 3 ][ 4 ] Economics focuses on the behaviour and interactions of economic agents and how economies work.
Economic data provide an empirical basis for economic research, whether descriptive or econometric. Data archives are also a key input for assessing the replicability of empirical findings [3] and for use in decision making as to economic policy. At the level of an economy, many data are organized and compiled according to the methodology of ...