Collection of Data — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEconomicsCollection of Data1 Mark
Question
Differentiate between primary data and secondary data.
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Answer
Primary data is based on first hand information so it is first-hand data (original), whereas secondary data is the data collected by some other agency so it is second-hand data.
Primary data is relatively more expensive and time consuming in comparison to secondary data, which saves time and cost.
Primary data is relatively more reliable than the secondary data. So secondary data should not be accepted at its face value, but rather it should be thoroughly scrutinised.
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