Correct Statement About Data
Which of the following statements about data is CORRECT?
- Data is only collected through Census
- Economic facts expressed in terms of numbers are called data — Correct Answer
- Data can only be primary, never secondary
- Data is only useful for government planning
Explanation:
Correct Answer Explanation
Economic facts expressed in terms of numbers are called data. Data is a tool that helps in understanding problems by providing information.
Key Points about Data:
- Data = Economic facts in numerical form.
- Purpose: To understand, explain and analyse a problem and its causes.
- Data can be either primary (first-hand) or secondary (from another source).
- Data can be collected through Census, sample surveys, personal interviews, telephone interviews or mailing.
- Data is useful for government planning, economic research, business decisions and more.
📚 About this Topic — CH-2: Collection of Data
This multiple choice question is from CH-2: Collection of Data, NCERT Books, Statistics for Economics. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-2: Collection of Data to strengthen your preparation.
