Facts Observed, Recorded, and Stored by an Entity Outside of the Researcher's

question 11

Multiple Choice

Facts observed, recorded, and stored by an entity outside of the researcher's organization are called _____.

• A) proprietary data
• B) external data
• C) internal data
• D) primary data

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Definitions:

Public Choice Economists

Economists who apply economic principles and methodologies to study and analyze political behavior and public policies.

Optimal Allocation

The most efficient distribution of resources among different possible uses that maximizes desired outcomes, such as profit or social welfare, without wasting any resources.

Deferred Costs

Expenses that are incurred but not immediately charged against income, typically spread over several accounting periods.

Rent-seeking Behavior

The practice of individuals or entities using resources to gain economic advantage from the government rather than contributing to wealth creation.