Which of the Following Factors Is Most Likely to Have

question 112

Multiple Choice

Which of the following factors is most likely to have an influence on the choice between primary and secondary data?

• A) Data source
• B) Substitutability
• C) Availability
• D) Applicability

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that anyone can consume them without diminishing their availability to others, such as public parks and clean air.

Competitive Markets

Markets characterized by a large number of sellers and buyers, which helps ensure fair prices and efficient distribution of goods and services.

Nonexcludable

A characteristic of a good or service that prevents the owner from effectively excluding others from using it, often leading to free-rider problems.

Public Good

Goods that are non-excludable and non-rivalrous, meaning that consumption by one individual does not reduce availability to others, and people cannot be prevented from using them.