Question

In: Economics

Is it best to use primary data or secondary data? Under what conditions would you tend...

Is it best to use primary data or secondary data? Under what conditions would you tend to use primary data instead of secondary data?

Solutions

Expert Solution

Primary data-data collected by the investigator for his own purpose for the first time from beginning to end are called primary data
Secondary data – secondary data are those which are already in existence and collected by other persons are called secondary data
Primary data are best for use because-
1 –primary data are original because these are collected by the investigator from the source of their origin.
2—primary data are always related to a specific objective of the investigator
3-primary data do not need any adjustment for the concerned study.
4- primary data are collected from their source of origin.
5- we can collect large information from primary data.
6-we can trust on primary data
Use of primary data instead of secondary data-if we want to collect information about population,new born girl baby , new born boy baby ,male,female, old person,their family income ,educational status ,their family members and the like.all this information would be termed as primary information or primary data.for this type data we need primary data instead of secondary data


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