When a Research Team Has Gathered Data for Specific Research

question 56

Multiple Choice

When a research team has gathered data for specific research needs, this is known as

• A)primary data.
• B)data mining.
• C)secondary data.
• D)data recovery.
• E)data modeling.

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Definitions:

Supply Curves

A graphical representation showing the relationship between the price of a good and the amount of it that producers are willing to supply.

Excise Tax

A tax levied on specific goods, services, or transactions, often included in the price of products like gasoline, alcohol, and tobacco.

Demand Curves

Charts displaying the correlation between a product's price and the amount of that product buyers are ready and capable of buying at different price levels.