Tag: economics

Questions Related to economics

Organisations that use primary data are ____________. 

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

  1. CSO

  2. Census of India

  3. Central Bank of India

  4. Both a & b

Show answer
Correct Option: D
Explanation:

Organizations that use primary data are both- CSO(Central Statistics Office) and Census of India. Primary data is also known as raw data. It is the first hand information.

Indirect oral investigation method of collection of data is to be used when ______________.

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

  1. the source is reluctant to give the infromation

  2. when there is less time

  3. when the finances are less

  4. All of the above

Show answer
Correct Option: A
Explanation:

Indirect oral investigation method of collection of data is to be used when the source is reluctant to give the information. People who have sufficient knowledge about the issue, are asked questions and data is obtained from their answers.

Collected data should be ______________.

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

  1. Quantitative

  2. Subjective

  3. Objective

  4. None of the above

Show answer
Correct Option: A
Explanation:

Collected data should be quantitative. Quantitative data consists of numerical variables. It measures the counts in numerical terms.

Secondary data should be _______________.

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

  1. accurate

  2. reliable

  3. suitable

  4. All of the above

Show answer
Correct Option: D
Explanation:

Secondary data is the second-hand information since the secondary  data is not collected or gathered by the user. It should be accurate, reliable and suitable. For example, government censs report is a secondary data.

Data collected by research institutions is ________________.

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

  1. primary data

  2. secondary unpublished data

  3. secondary published data

  4. All of the above

Show answer
Correct Option: A
Explanation:

Primary data is also known as raw data. It is the first-hand information. Data collected or gathered by research institutions is primary data. Primary data is collected only for a specificc purpose.

How is primary data usually collected?

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

  1. Indirect praline view

  2. Telephone survey

  3. Mailed questions

  4. All of the above

Show answer
Correct Option: D
Explanation:

Primary data is also known as raw data. It is the first hand information. It is collected by all of the following- indirect praline view, telephone survey and mailed questions.

A characteristic of interest for an elements is called __________.

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

  1. a variable

  2. an element

  3. a data set

  4. None of the above

Show answer
Correct Option: A
Explanation:

A data item is also called as a variable. For example, age, sex, income, etc are referred as variables. A characteristic of interest of an elements is called a variable.

Which amongst there is the most expensive way of collecting data? 

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

  1. Questionnaire through enumerator

  2. Telephonic survey

  3. Direct personal interview

  4. Indirect oral investigation

Show answer
Correct Option: A
Explanation:

The most expensive way of collecting data is questionnaire through enumerator. Since the arrangements are to be done for the enumerator to question the population.

Primary data is _______________.

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

  1. first hand information

  2. already published data

  3. original in nature

  4. (A) and (C)

Show answer
Correct Option: D
Explanation:

Primary data is the data, which is collected for the first time by investigators. It s also known as raw data. It is the first-hand information. It refers to the collection of data for a specific purpose. It is original in nature since it is collected directly by the user.

The sources from where primary data can be collected are known as _______________.

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

  1. outside sources

  2. secondary sources

  3. primary sources

  4. inside sources

Show answer
Correct Option: C
Explanation:

Primary data is the data, which is collected for the first time by investigators. It s also known as raw data. It is the first-hand information. It refers to the collection of data for a specific purpose. The sources from where primary data can be collected are known as primary sources.