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11th Social-economics-statistics for Economics

11th Social-economics-statistics for Economics

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Published by: Chaitanya Kumar Katta on Jul 06, 2010
Copyright:Attribution Non-commercial

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04/15/2013

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told this subject is mainly around what
Alfred Marshall
(one of thefounders of modern economics) called
the study of man in the ordinary business of life
”. Let us understand what that means. When you buy goods (you may want to satisfy your own personalneeds or those of your family or thoseof any other person to whom you wantto make a gift) you are calleda
consumer
. When you sell goods to makea profit for yourself (you may bea shopkeeper), you are called a
seller
. When you produce goods (you maybe a farmer or a manufacturer), youare called a
 producer
.
Introduction
1.
 W 
HY
E
CONOMICS
?
You have, perhaps, already hadEconomics as a subject for your earlierclasses at school. You might have been
Studying this chapter should enable you to:
know what the subject of economics is about;understand how economics islinked with the study of economic activities in consumption, production and distribution;understand why knowledge of statistics can help in describing consumption, production and distribution;learn about some uses of statistics in the understanding of economic activities.
C
HAPTER
1

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