Primary Data Are Best Described as the

question 96

Multiple Choice

Primary data are best described as the

• A) first batch of data collected for a specific study.
• B) data that are necessary for a correct decision.
• C) data that are observed, recorded, or collected directly from subjects.
• D) data that are compiled for some purpose other than the study in question.
• E) data that are collected inside and outside the organization for some purpose other than the current investigation.

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Definitions:

Guaranteed Profit

A commitment or assurance, often not feasible, that an investment will yield a positive return.

Reduced Competition

A market condition where there are fewer rivals competing for customers, often leading to increased prices and reduced innovation.

Price Discrimination

The strategy of selling the same product to different buyers at different prices based on factors like age, location, or purchase volume, often to maximize profits.