Which of the Following Is an Advantage of Secondary Data

question 66

Multiple Choice

Which of the following is an advantage of secondary data over primary data?

• A)Secondary data are always available for strategy-specific research questions.
• B)Secondary data sources are limited,making the information more valuable.
• C)Secondary data are cheaper to obtain and utilize.
• D)Secondary data are collected specifically for the research problem under investigation.

---

Definitions:

Profit-Maximizing

The process of adjusting production and operations to achieve the highest possible profit based on current market conditions and cost structures.

Market Failure

Occurs when the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

Resource Extraction

The process of retrieving natural resources from the earth, such as minerals, oil, and gas, for human use.

Weak Property Rights

A situation where the legal protections and enforcement mechanisms for ensuring ownership and control over property are inadequate or not effectively implemented.