Primary Data Is the First Type of Data Marketers Obtain

question 120

True/False

Primary data is the first type of data marketers obtain. They turn to secondary data only if the primary data alone is not sufficient.

---

Definitions:

Good A

A hypothetical or generic product or service that is used as an example in economic theories or problems.

Price-Inelastic

A scenario where the demand for a good or service is relatively unchanged when the price varies.

Total Revenues

The total sum of money received by a company for goods sold or services provided during a certain period.

Grains

Refers to small, hard seeds, especially the seeds of plants such as wheat, corn, oats, barley that are used for food.