Primary data is more ____________ and reliable compared to secondary data.

Study effectively for the Personal Finance Domain 2 Test. Access flashcards, multiple-choice questions, and thorough explanations for each answer to enhance your preparation. Be fully ready for your exam!

Primary data is considered more accurate because it is collected directly from the source for a specific purpose or research study. This means it reflects current conditions, specifics, and particular details that secondary data, which is obtained from previously published sources, may not capture. When researchers gather primary data, they have control over the methodology, ensuring that the information is collected in a way that is relevant and precise.

In contrast, secondary data might come from a variety of sources that can be outdated or may not fit the current context of the research. It has the potential for errors or biases introduced during initial collection or publication, leading to inaccuracies. Hence, the reliance on firsthand information in primary data collection enhances its validity and reliability, making it a preferred choice in research settings where precision is vital.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy