This document provides an introduction to statistics. It defines statistics as dealing with the collection, classification, analysis and interpretation of numerical data. It discusses some key economic problems such as poverty, unemployment and inflation. It also defines important economic terms like consumption, production and distribution. The document outlines several definitions of statistics provided by different authors. It explains that statistics has a wide scope that can be applied to many fields. Some key functions of statistics are simplifying complexity, reducing bulk data, adding precision, enabling comparison and studying relationships. The document also discusses how statistics is used extensively in economics for areas like economic planning, decision making and policy framing. It notes some limitations of statistics like not studying qualitative phenomena or individuals.

1. INTRODUCTION TO
STATISTICS

2. WHAT IS STATISTICS
• Economics deals with various economic
activities of people. The term Economics is
originally derived from the Greek word,
‘Oikos’ and ‘nomos’ means household
management. Economics is a science that
deals with the use of scares resources that
have alternative uses to satisfy human wants.

3. ECONOMIC PROBLEMS
• In an economy there are numerous economic problems such as
poverty, food shortage and hunger, unemployment, inflation etc.
Before discussing these economic problems in detail, let us examine
some of the terms associated with basic economic activities.
• Consumption: Purchase of goods by consumers to satisfy their
various needs is called consumption
• Production: Manufacturing of goods by producers for the market is
called Production
• Distribution: Division of the national income in terms of wages,
profits, rents and interests is called Distribution
• Some econimic problems are
• Human wants are unlimited
• Resources are limited to satisfy these wants
• Resources have alternatives applicability

4. DEFINITION OF STATISTICS
The term statistics has been defined by differently
by differently by different authors.Some of the
simple definitions of statistics are as
1. Statistics deals with aggregates of facts.
2. Statistics deals with counting of data.
3. Statistics deals with collection ,classification,
analysis and interpretation of numerical data.
The term statistics is used in plural and singular
sense.

5. SCOPE OF STATISTICS
• The scope of statistics is vast ,expanding and
recognised as a major discipline.It can be
applied to all fields of enquiry such as trade
industry, commerce economics, biology,
botany,astronomy,physics,chemistry,education
,sociology,psychology etc

6. Functions of statistics
• It simplifies complexity of data
• It reduces the bulk data
• It adds precision in thinking .
• It helps comparison of different sets of figures.
• It indicates trends and tendencies .
• It helps in studying relationship between
different factors.

7. USE OF STATISTICS IN ECONOMICS
• In economics,variable like
input,output,income,consumption etc are
systematically and scientifically analysed with the help
of statistical tools.
• Statics is extensively used in various stages of
economic and development planning.
• Decision making in economics is done with the help of
statistics.
• Framing economic policies are undertaken with the
help of statistics.
• Higher level application of statistics in economics is
known as econonmetrics.

8. LIMITATIONS OF STATISTICS
• It does not study qualitative phenomena.
• It does not reveal the entire story .
• It does not study individuals.
• It is liable to be misused.
• Statistical laws are true only on average.

9. THANK YOU