How does statistics help to support or confirm a principle laid by eco

1.	How does statistics help to support or confirm a principle laid by economics?
Answer» One cannot directly believe the established theories and put them in practice. We need to test the validity of such theories in real life at different times and places. To do so we need to gather information related to the established theory from real life activity at such different times and places. Such information can be collected and presented in quantitative terms with the help of statistical tools.

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