Tag: economics

Questions Related to economics

Under _________, a well designed questionnaire is mailed to the informants with a request to fill it up and return the same within the specific time schedule.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. direct personal interview method

  2. mailed questionnaire method

  3. information received from local agencies or correspondents

  4. indirect oral interview method

Show answer
Correct Option: B
Explanation:

Under mailed questionnaire method, a well designed questionnaire is mailed to the informants with a request to fill it up and return the same within the specific time schedule. By this method, a wide range of people can be connected.

Statistical data relating to any subject could be collected ______________.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. by actual counting

  2. by measurement

  3. by estimation

  4. Any of the avove

Show answer
Correct Option: D
Explanation:

Statistical data relating to any subject could be collected by any of the following- by actual counting, by measurement and by estimation.By a system of measuring a particular information, data could be collected by measurement. Whereas, by estimation, a point estimate is calculated to obtain a statistical data.

The quickest method to collect primary data is _____________.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. personal interview

  2. indirect interview

  3. mailed questionnaire method

  4. telephonic survey

Show answer
Correct Option: D
Explanation:

The quickest method to collect primary data is telephonic survey. A wide range of people can be connected through this method. People are asked questions through the use of telephone and data is collected according to their answers.

Identify merits/demerits of questionnaire method:
This method is likely to be the slowest of all.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. Merit

  2. Demerit

  3. Both

  4. None of the above

Show answer
Correct Option: B
Explanation:

If a method is the slowest of all then it becomes the demerit of that method as we need the fastest computing method.

Which of the following method comes first in collecting primary and secondary data?

economics planning and collecting data different types of data primary and secondary data collecting data

  1. Questionnaire Method

  2. Panel Method

  3. Observation Method

  4. Interview Method

Show answer
Correct Option: C
Explanation:

In observation method, the data is collected from the field with the help of the observer.


Therefore, the observation method comes first in collecting primary and secondary data.

Which of the following is/are not the methods of collection of primary data.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. Observation Method

  2. Interview Method

  3. Questionnaire Method

  4. Alternative Method

Show answer
Correct Option: D
Explanation:

There are various methods for the collection of primary data mainly in surveys and descriptive researches.

The observation, interview and questionnaire methods, we collect the primary data. 

A list of all units under study is known as _________.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. type of inquiry

  2. the frame

  3. standard of accuracy

  4. method of data collection

Show answer
Correct Option: B
Explanation:

Sampling Frame refers to the set of people or objects in the population from whom the information can be collected or who can be sampled for the purpose of gathering information.

Which of the following is a very costly and time-consuming method?

economics planning and collecting data different types of data primary and secondary data collecting data

  1. Mailed questionnaries

  2. Schedules sent through enumerators

  3. Information through agencies

  4. Indirect oral interview

Show answer
Correct Option: B
Explanation:

Schedules sent through enumerator is a method for collecting primary data in which schedules are sent to the enumerators and then they collect the data. It is a very time consuming method and costly.

The basis for all scientific sampling is ____________.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. simple random sampling

  2. systematic sampling

  3. stratified sampling

  4. cluster sampling

Show answer
Correct Option: A
Explanation:

Scientific sampling is a process in which individuals are chosen randomly that every individual present in the population has an equal chance of getting selected without any personal biasness i.e. simple random sampling.

Simple random sample gives __________.

economics planning and collecting data different types of data primary and secondary data collecting data

  1. equal chance to all items in the population

  2. preferences to some items in the population

  3. equal chance to all items in national income

  4. both (B) and (C)

Show answer
Correct Option: A
Explanation:

Simple random sampling refers to the process when every individual present in the population has an equal chance of being selected without any personal judgement.