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Collection of Data — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsCollection of Data3 Marks
Question
Distinguish between:
  1. Primary Data and Secondary Data.
  2. Census Method and Sample Method.
✓

Answer

  1. 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 more reliable than secondary data, so, secondary data should not be accepted at its face value, but rather it should be thoroughly revised.
  1. In Census Method, extensive survey is done, as each and every unit of the population is taken into account, whereas in Sample Method, a selective or limited survey is conducted, as few selected units of the population are taken into account.
  • Census Method is relatively more expensive and time consuming as compared to the Sample Method.
  • In terms of reliability and accuracy, Census Method is more reliable and accurate than Sample Method.

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