Which of the following is NOT a use of statistics in economics?

used in finding relationships between different economic and non economic factors.

The correct answer is option 2: used in finding relationships between different economic and non economic factors.

Option 2: Used in finding relationships between different economic and non-economic factors. This is  not a primary use of statistics in economics. While economists might occasionally consider non-economic factors (like social or environmental factors) to understand a broader context, the core focus of statistical analysis in economics is on relationships between economic variables (such as price, demand, supply, income, and expenditure). Therefore, this option is not as accurate in the context of typical economic analysis.

Option 1: To analyze serious economic problems such as rising prices, growing population, unemployment, poverty, etc.This is a valid use of statistics in economics. Economists use statistical methods to collect, analyze, and interpret data related to various economic issues. For example, they may study inflation rates, demographic changes, unemployment trends, and poverty levels to understand and address these problems.

Option 3: To evaluate the impact of various policies in solving the economic problems. This is another crucial use of statistics in economics. Economists use statistical techniques to assess the effectiveness of policies and interventions. For instance, they might evaluate how a new tax policy affects economic growth, employment rates, or income distribution. By analyzing data before and after the implementation of a policy, they can determine its impact and make informed decisions.