Which of the Following Statements About Secondary Data Is True

question 44

Multiple Choice

Which of the following statements about secondary data is true?

• A) It is more expensive to gather than primary data.
• B) Findings are always valid even if they are not always reliable.
• C) It is more time consuming to gather than primary data.
• D) Most of the available information is relevant to the problem at hand.
• E) Information may be out of date and therefore obsolete.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

No-Name Brand

Generic brands that are usually sold at a lower price compared to known brand names, typically lacking a brand logo.

Professional Chefs

Highly skilled and trained individuals who prepare and cook food in professional settings like restaurants and hotels.

Home Users

Individuals or families that utilize products or services primarily for personal, non-commercial purposes.