Different Type of Datasets:
In the economy, we mainly deal with Four main categories of Data:
1. Time Series Data: X(t)
The data which change by time. like the stock price which changes frequently, every minute, hour, day or…
2. Cross-Sectional Data: X(i)
These data sets are taken at a specific period of time. like the Unemployment rate in the year2021. The data taken are obtained based on random sampling.