Almyra Has Decided to Buy a Data Set from Statistics

question 93

Multiple Choice

Almyra has decided to buy a data set from Statistics Canada to use as the basis for her research for her Master's thesis.Which method of data collection is she using?

• A)primary analysis
• B)secondary analysis
• C)technical analysis
• D)quantitative analysis

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Definitions:

Market Equilibrium

A situation in which market supply equals market demand, and prices stabilize.

Demand Price

The highest price consumers are willing to pay for a good or service at a given quantity, reflecting the value placed on the item by the market.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Imposes a Quota

A restriction, set by a government, on the maximum number of units of a particular product that can be imported or exported within a given period.