INTRODUCTION

Data- numerical expression of quantitative information.

Economic - The study of man is ordinary business of life.

Consumer- when a person buy good to satisfy hem self and gain profit.

Producer - A producer is a person who sell good and services to satisfy his profit.

Service holder- When a person are in a job working for some other person and he get remuneration for it.

Service provider- When a person in job work for some other person and he get paid for it he is called service provider.

BASIC ECONOMIC ACTIVITIESPRODUCTION CONSUMPTIONEXCHANGEDISTRIBUTION

PRODUCTION –T he process producing good and service to satisfy human needs.

Assembly of a Model T Two workers mount an engine into the chassis of a Ford Model T that was put together at earlier

points on the assembly line. The development of the production line in the Ford Motor Plant was one of the key factors in the evolution of modern forms of industrial production.

CONSUMPTION- Consumption, in economics, the using up of goods created by production. Consumption often is regarded by economists as the end of the productive process, the purpose for which all production is undertaken. In its broadest sense the term includes both capital consumption, or the using up of goods such as factory machines and tools in the production

of other goods, and non-productive consumption, or the using up of goods for non-productive purposes. Economists generally prefer to restrict the term to non-productive consumption.

DISTRIBUTION

DISTRIBUTION- The gross domestic product among the factors of production in the form of rent, wage, salaries, interest etc known as distribution.

ECONOMY- It is a set of frame work with in which various economic activities take place called economy

STATISTICS

Plural senseSingular sense

STATISTICS-

It is a branch of mathematics that deals with the collection, organization, and analysis of numerical data and with such problems as experiment design and decision-making.

STATISTICS IN PLURAL SENSE In plural sense stastistics are numerical statement of fact in any department of enquiry placed in relation to each other .

STATISTICS IN SINGULAR SENSE

Statistics is defined as collection, presentation analysis and interpretation of numerical data.

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