Which of the Following Is True with Regard to Gathering

question 104

Multiple Choice

Which of the following is true with regard to gathering secondary data?

• A) Gathering secondary data involves costly fees to government agencies.
• B) Commercial online databases contain primary rather than secondary data.
• C) Internet search engines can be useful sources of relevant secondary data.
• D) It is illegal for firms to purchase secondary data from outside suppliers.
• E) Secondary data eliminates the need for primary data in most cases.

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Definitions:

World Price

The global market price of a commodity or a good that is traded internationally, affected by factors like supply, demand, and international trade policies.

Domestic Consumers

Inhabitants or domestic groups in a country buying items and services for private use.

Domestic Producers

Companies or individuals that manufacture or create goods and services within a country's borders, contributing to the domestic economy.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity of that good supplied, leading to market equilibrium.