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

Under which of the following method, investigators personally visit the respondents, ask them questions pertaining to the enquiry and collect the desired information?

  1. Indirect oral interview

  2. Schedule sent through enumerators

  3. Mailed questionnaire method

  4. Direct personal interview
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Under direct personal interview method of data collection, investigators personally visit the respondents, ask them questions pertaining to the enquiry and collect the desired information. By this method more accurate and reliable data can be obtained as there is face to face communication.

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

Primary data may be collected by ______________.

  1. direct personal interview

  2. indirect oral interview

  3. information received from local agencies or correspondents

  4. Any of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Primary data is the data, which is collected for the first time by investigators. It is 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. Primary data is more reliable, accurate and adequate than the secondary data. it may be collected by direct personal interview, indirect oral interview and by information received from local agencies or correspondents.

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

Which of the following terms best describes data that we originally collected at an earlier time by a different person for a different purpose?

  1. Field note

  2. Experimental data

  3. Secondary data

  4. Primary data
Reveal answer Fill a bubble to check yourself
C Correct answer
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 census report is a secondary data. Thus, secondary data that we originally collected at an earlier time by a different person for a different purpose.

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

Statistical data are collected only with ____________.

  1. 100% accuracy

  2. a reasonable degree of accuracy

  3. a reasonable degree of inaccuracy

  4. all of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It is not possible for statistical data to be 100% accurate. Statistical facts can be affected by multiple causes, there is a lot of scope for error to be embedded in the data collected, one reason is that there may be biases on the part of the interviewer and/or the interviewee. Thus, large samples are taken to ensure reasonable degree of accuracy.

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

In case of rail accident, the appropriate method of data collection is by a ________.

  1. direct interview

  2. personal interview

  3. indirect interview

  4. All of above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Under indirect interview method of data collection, investigators collect data by contacting third-party or informants who are supposed to possess the information on the problem under investigation. In case of rail accident, the appropriate method of data collection is by indirect interview.

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

Statistical survey is a scientific process of ___________.

  1. collection of data

  2. collection and analysis of data

  3. analysis of data

  4. collection and analysis of numerical data
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statistical survey is a scientific process of collection and analysis of numerical data. It helps to examine and analyse the characteristics of a given population. Proper statistical methodology is used to conduct statistical survey.

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

Which one of the following objectives is not the objective of secondary data collection?

  1. Identify the problem

  2. Test the hyptothesis of the relevant present problem

  3. Defining the problem

  4. Interpret primary data more insightfully
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Secondary data collection are data which have already been collected for the purpose other than problem at hand. These data can be located for purposes quickly and inexpensively. 

Test the hyptothesis of the relevant present problem is not an objective of secondary data collection.

Multiple choice economics income-output determination public debt public debt main feature of tax

Which of the following is not a component of aggregate demand in a two-sector economy?

  1. Net Exports

  2. Government Expenditure

  3. Consumption

  4. Both (a) and (b)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The aggregate demand in two sector economy only includes the expenditure made by the consumer sector and the producer sector. The expenditure by the government sector and net exports are not included in the two sector economy.