Which Type of Data Is Probably Least Expensive to Collect

question 86

Multiple Choice

Which type of data is probably least expensive to collect?

• A)Primary data
• B)Secondary data
• C)Subjective research
• D)Expensive research
• E)External research

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Definitions:

Present Value

The current value of a future sum of money or stream of cash flows given a specified rate of return.

Cash Flows

The movement of money into and out of a business, project, or financial product, reflecting its operational and financial health.

Simulation Models

Computational models that mimic the operations of real-world processes or systems for the purpose of analysis or decision-making.

Flexible Capacity

Denotes the ability of a business or production system to adjust output levels or operations in response to changes in demand or market conditions.