Economics · Data Collection
Which of the following statements is INCORRECT regarding primary data?
- 1Collecting primary data is not very expensive in terms of both time and money.✓
- 2Primary data are original in character.
- 3Primary data are those that are collected for the first time from source.
- 4Primary data are generally more reliable and suitable for specific inquiries.
Correct answer
Collecting primary data is not very expensive in terms of both time and money.
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