Primary data methods have a significant time and cost advantage over secondary data.

Question

False
True

Answer 1

False

Primary data methods typically involve more time and cost compared to secondary data methods. Collecting primary data requires designing research, gathering information through surveys, experiments, or interviews, and analyzing the results, which can be time-consuming and expensive. In contrast, secondary data involves using existing data that has already been collected, often resulting in lower costs and quicker access to information.