Name Two Advantages and Two Disadvantages of Using Primary Data

question 43

Essay

Name two advantages and two disadvantages of using primary data.Also name two advantages and two disadvantages of using secondary data.

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Definitions:

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of the others remain unchanged.

Repeated Games

A situation in strategic interactions where players engage in the same game multiple times, allowing for strategy adjustments based on previous outcomes.

Nash Equilibrium

A solution concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.

Incentive

A motivation or reward intended to encourage certain actions or behaviors.