Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

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

The collection of statistical data must be in a _____ manner.

  1. careful

  2. syntematic

  3. careful and systematic

  4. arbitrary
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Data should try to be collected as accurately as possible to ensure that error is minimum. As there could be undesirable consequences if the the data that is full of errors is the foundation of future research. 

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

In order to save time and money, economists may collect their data by __________.

  1. door to door survey

  2. the use of censuses

  3. using the earlier research papers

  4. the use of samples
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In order to  save time and money, economists may collect their data by the use of samples.An observed set of the population that has been selected for analysis is called a sample. A sample is a small part of the whole information.

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

Data is_______________.

  1. Collectio of information about a person

  2. Collection of information regarding the comparative things

  3. Both A & B

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Data is collection of information regarding the comparative things. Data can consist both qualitative as well as quantitative information. It is usually formatted in a specific way.

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

When data is classified on the basis of attribute it is termed as________.

  1. Geographical

  2. Qualitative

  3. Chronological

  4. Both a&c
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

When data is classified on the basis of attribute it is termed as qualitative data. Qualitative data highlights the quality of the information. Attribute gets the special emphasis in analysing the data.

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

The estimation of consumer demand by questioning a sample of consumer is referred to as the _________________.

  1. consumer survey approach

  2. product survey approach

  3. selling approach

  4. marketing approach
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The estimation of consumer demand by questioning a sample of consumer is referred to as the consumer survey approach. Estimation of consumer demand helps to analyse consumer's behaviour.

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

After doing the thorough calculation of consumer demand by setting up stimulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the ______________.

  1. consumer survey approach

  2. observational approach

  3. consumer clinic approach

  4. product research approach
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

After doing the thorough calculation of consumer demand by setting up stimulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the consumer clinic approach. It is also known as 'Laboratory type' experiment. By this approach, a sample of consumers is given a specific budget and asked to plan out their expenditure.

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

For checking how many students scored above $80\%$ marks in a class what should be the source of data?

  1. Secondary data

  2. Mailed questions

  3. Direct investigation

  4. Sample investigation
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For checking how many students scored above  80% marks in class, direct investigation should be conducted to collect the necessary data. Hence, direct investigation should be the source of data. Direct investigation is conducted by collecting the data directly from the students of the respective class.