explain about primary data and secondary data in economics?
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Answer:
Primary data: Data collected by the investigator himself/ herself for a specific purpose. Examples: Data collected by a student for his/her thesis or research project. ... Secondary data: Data collected by someone else for some other purpose (but being utilized by the investigator for another purpose).
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Primary data refers to the first-hand data gathered by the researcher himself. Secondary data means data collected by someone else earlier.
Some examples of primary sources are:
- raw data.
- original research (journal articles, books)
- photographs, artifacts.
Some Examples Of Secondary Data are:
- internet searches
- information collected through government
- GPS, remote sensing
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