Secondary Data ________

question 28

Multiple Choice

Secondary data ________.

• A) are generally more costly to acquire or generate than primary data
• B) are always publicly generated and available
• C) are almost always derived from surveys and focus groups
• D) can be collected more quickly and less expensively than primary data

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Definitions:

Technology Level

A measure of the degree of sophistication and advancement of a society's tools, techniques, and methods of production.

Instability

The condition of being prone to change or fluctuation, often in a way that is unpredictable or potentially harmful.

Factors Efficiently

refers to the optimal allocation and utilization of resources in production to maximize output without wasting resources.

Opportunity Cost

Opportunity cost is the benefit lost when choosing one alternative over another, representing the value of the next best option foregone.