What Are the Two Important Advantages of Secondary Data Over

question 186

Multiple Choice

What are the two important advantages of secondary data over primary data?

• A) a wide variety of statistics and large sample groups used to create the data
• B) a high level of detail and endorsement by other users
• C) accuracy and specificity of the data gathered for the research study
• D) cost and speed of locating the data

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Definitions:

Shrimp

A small, decapod crustacean commonly found in marine and freshwater environments, often used as food.

Midpoint Formula

A method used to calculate the elasticity of demand or supply by averaging the start and end points of a range.

Price Elasticity

A gauge for the sensitivity of the amount of a good that is demanded or offered to alterations in its pricing.

Quantity Supplied

The amount of a particular product that a firm would be willing and able to offer for sale at a particular price during a given time period.