Paper 1 · Market research
Which of the following is generally true of primary data, in contrast to secondary data, when a business commissions its own market research?
AIt is first-hand information collected specifically for this research.
BIt is second-hand information originally gathered for a different, earlier purpose entirely.
CIt is generally quicker and cheaper to gather than secondary data would be.
DIt tends to be historic and may no longer suit the current purpose at hand.
Explanation: Primary data is first-hand information collected for the first time for a specific purpose, so it is up to date and exclusive, though usually more expensive and time-consuming to gather than secondary data, which is second-hand, historic information originally collected for another purpose.
Derived from ZIMSEC Business_studies Paper 1, June 2019, Q3
