Question

In: Economics

What are the differences between primary and secondary resources? What are the advantages and disadvantages of...

  1. What are the differences between primary and secondary resources? What are the advantages and disadvantages of both?

Solutions

Expert Solution

primary resources are explained as the resources whichh conatinn direct first information. It means that a individual is reading the writers own account on a subject or event in which one participated. They are also refried to original functions. Primary resources act as a medium exchange and helps to calculate the value. .Interviews, correspondence, articles, manuscripts, biographies, books diaries are examples of primary resources.

These information’s are considered as more relevant and closest to the true information. The creating of one with any direct or firsthand participation in subject or events are secondary resources. These are contingent functions includes maximization of utility, income distribution and measurement. Secondary function used for storage and transfer of value. scholar books, guides, working papers, dictionaries, encyclopedia, or other economic journals are examples.

Advantages off primary resources

Use of primary resource enhance confidence on material. It is more easy to track the genuinely and the points on it. The reader do not fall in any wrong assumption due to misinterpretations.

Disadvantages of primary resources.

Sometimes primary resources can be incomplete. Primary resources can be only make out using knowledge and capability of the reader. Sometimes languages can be barrier. So it becomes insufficient to get better understanding. So it can be say that primary resources can be unusable in some cases.

Advantages off secondary resources

Secondary resources resolve the disadvantages of primary ones. In secondary resources have various extended ways are used for better understanding of information’s. It helps to understand more than what one make out from primary resources as different expertise have different skills.

Disadvantages of secondary resources

Interpretations are the basic for secondary resources. Various writers have different interpretations in accordance with their thoughts, experiences and biases. As the primary points of evidence it cannot consider the secondary resources as reliable ones. It is only better and developed interpretations.


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