Collection and Presentation of Data
NIOS · Class 10 · Economics
Quick revision notes for Collection and Presentation of Data — NIOS Class 10 Economics. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
Meaning and Features of Data
- Data is quantitative information giving facts in aggregate form.
- A single fact is not data; data requires an aggregate of facts.
- Data is always numerical in nature; qualitative words like good, bad, beautiful, or handsome are attributes, not data.
Importance of Data in Economics
- Data are essential in economic planning because past data help prepare future plans.
- Data are used to determine national income and understand the state of the economy.
- Government policies are often based on statistical data about poverty, unemployment, population, and literacy.
Types of Data and Methods of Collection
- Data are classified into primary data and secondary data on the basis of source of collection.
- Primary data are originally collected for the first time for the purpose of the survey.
- Secondary data are already collected by others and reused.
Classification, Variables, Attributes, and Statistical Series
- Classification is the process of arranging data into classes or groups according to resemblances and affinities.
- Mass data in original form is called raw data.
- A variable is data capable of being classified in magnitude of time or size.
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