Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
3.9k views
in Economics by (65.0k points)

The Government and policy makers use statistical data to formulate suitable policies of economic development. Illustrate with two example.

1 Answer

+1 vote
by (49.2k points)
selected by
 
Best answer

The government and the policy makers use the statistical data to formulate suitable policies of economic development. No analysis of a problem would be possible without the availability of data on various factors underlying an economic problem. For example if the government wants to make a policy to solve the problem of unemployment and poverty, reliable data are required for it. The number of persons who are waiting for a job, unemployed and semi employed persons, educated and illiterate persons, the number of people living below the poverty line, the related data may be required. If the government wants to remove poverty and disparity in income and wants to take appropriate action then proper reliable data are required. For example, if the government wants to help the people affected by Tsunami earthquakes, the bird flu dangers then data should be collected and put together about the disaster's cost systematically and correctly.

Modern economists now includes learning the basic skills involved in making useful studies for measuring poverty, how incomes are distributed, how earning opportunities are related to education, how environmental disasters affect our lives and so on.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...