Explanation:

In economics, the singular sense of statistics refers to techniques for data collection. Statistics is the branch of mathematics that deals with the collection, analysis, interpretation, presentation, and organization of data. In the field of economics, statistics is used to gather and analyze data related to economic issues, such as market trends, consumer behavior, production, and employment.

Techniques for data collection:
Statistics provides various techniques for collecting data in economics. These techniques include:

1. Surveys: Surveys are one of the most common methods of collecting data in economics. Surveys involve gathering information by asking questions to a sample of individuals or businesses. The collected data can then be analyzed to identify patterns, trends, and relationships.

2. Experiments: In economics, experiments are conducted to collect data under controlled conditions. For example, an economist may conduct an experiment to study the effects of a change in price on consumer demand. The data collected from experiments can help economists make predictions and better understand economic behavior.

3. Observational Studies: Observational studies involve collecting data by observing and recording economic phenomena. This method is often used when it is not feasible or ethical to conduct experiments. Observational studies can provide valuable insights into economic trends and patterns.

4. Secondary Data: Secondary data refers to data that has already been collected by other sources, such as government agencies, research institutions, or private organizations. Economists often use secondary data to analyze economic issues and make informed decisions.

Importance of data collection in economics:
Data collection is crucial in economics as it provides the foundation for economic analysis and decision-making. By collecting and analyzing data, economists can:

1. Identify trends and patterns: Data collection allows economists to identify trends and patterns in economic variables, such as inflation rates, GDP growth, or consumer spending. These insights help economists understand the current state of the economy and predict future economic conditions.

2. Measure economic performance: Data collection enables economists to measure and compare the performance of different sectors, industries, or regions. For example, GDP data helps economists assess the overall economic health of a country.

3. Understand consumer behavior: Data on consumer spending, preferences, and purchasing patterns provides valuable insights into consumer behavior. This information helps businesses and policymakers make informed decisions about pricing, marketing, and resource allocation.

4. Evaluate policy effectiveness: Data collection allows economists to evaluate the effectiveness of economic policies and interventions. By comparing data before and after the implementation of a policy, economists can assess its impact on various economic indicators.

In conclusion, the singular sense of statistics in economics refers to the techniques for data collection. Data collection is essential for economists to analyze economic issues, understand consumer behavior, and make informed decisions.

In economics, the singular sense of statistics refers to the techniques and methods related to the collection, classification, presentation, analysis, and interpretation of quantitative data.