Question

1. What are the costs and benefits of utilizing quantitative methods and qualitative methods? Which method do you believe is superior?
2. Consider a political phenomenon that you would like to study. Compile a list of a couple research questions and hypotheses that can help you in your study.

Answer 1

Cost benefit analysis explain the cost with benefit raised from particular decision. Cost benefit analysis include both qualitative and quantitative factors. For example we are going to construct a building in the city; the quantitative factors include amount of tax breakers and the qualitative factors include rating of educational institutions in that city. How the cost benefit can be applied; if there is a need of workers to design new products, here we should analyze the cost of hiring new staffs and the benefit is cash flows get through introducing this product. The quantitative method is more superior to the qualitative methods. Quantitative data give specific amount of information.
If we are taking a research studies which; the economic impact of introducing mint in a remote area. The quantitative factors include the working hours, income to workers, interest cost, return from production etc. The qualitative factors include the impact of employee moral values, level of pollution crated, social conditions of new employees etc.
Questions:
Is there any type of health problems affected?
Did you receive income in proper manner in last 5 months?
What is the climate in last 3 days?