Considering the Two Main Types of Data, If Facts and Figures

question 28

Multiple Choice

Considering the two main types of data, if facts and figures are newly collected for a project, which type of data is being collected?

• A) immediate data
• B) internal data
• C) external data
• D) primary data
• E) secondary data

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Definitions:

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time period.

Subsidies

Subsidies are financial grants or support extended by governments to firms, individuals, or institutions to encourage the production or consumption of certain goods or services, or to support industries.

Domestic Firms

Refers to companies that operate within the country where they are based and conduct their business activities in the local market.

Subsidies

Financial contributions by a government or public body to support businesses, consumers, or economic sectors, reducing the price of goods and services or the cost of production.