Secondary Data Are Generally More Useful Than Primary Data Because

question 278

True/False

Secondary data are generally more useful than primary data because secondary data are more voluminous, more readily available, and cheaper to obtain.

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Definitions:

Marginal Extraction Costs

The additional costs incurred for extracting one more unit of a resource, which may increase as the resource becomes scarcer.

Resource

Assets, materials, or substances that provide economic value or benefit to individuals or businesses.

Extraction Cost

Refers to the expenses involved in removing natural resources from the earth, such as mining or drilling.

User Cost

The cost associated with using a durable asset over a period, including the depreciation of the asset and possibly other expenses like maintenance.