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Class 11 Economics Chapter 2 Notes

The document outlines the process of data collection in economics, distinguishing between primary and secondary data sources. It details various methods for collecting primary data, such as surveys and interviews, along with their merits and demerits. Additionally, it emphasizes the importance of verifying the reliability of secondary data and highlights the differences between the two types of data.

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3 views2 pages

Class 11 Economics Chapter 2 Notes

The document outlines the process of data collection in economics, distinguishing between primary and secondary data sources. It details various methods for collecting primary data, such as surveys and interviews, along with their merits and demerits. Additionally, it emphasizes the importance of verifying the reliability of secondary data and highlights the differences between the two types of data.

Uploaded by

sanjayksingh2111
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Class 11 Economics - Chapter 2 Notes

1. **Meaning of Collection of Data**: It refers to the process of gathering information


from various sources to analyze and draw conclusions.

2. **Sources of Data**:

- **Primary Data**: Collected directly by the investigator through surveys,


interviews, etc.

- **Secondary Data**: Already collected by someone else and available in books,


websites, reports, etc.

3. **Methods of Collecting Primary Data**:

- **Direct Personal Investigation**: Investigator collects data personally.

- **Indirect Oral Investigation**: Data is collected through a third party.

- **Information from Local Correspondents**: Data collected by agents or


correspondents.

- **Mailed Questionnaire Method**: Questionnaire sent by mail to respondents.

- **Telephonic Interviews**: Data collected over the phone.

- **Schedules Sent Through Enumerators**: Trained persons collect data directly.

4. **Merits and Demerits of Primary Data**:

- **Merits**: Original, relevant, specific, and up-to-date.

- **Demerits**: Expensive, time-consuming, and requires trained investigators.

5. **Merits and Demerits of Secondary Data**:

- **Merits**: Easily available, less costly, time-saving.

- **Demerits**: May be outdated, not specific, or reliable.

6. **Precautions in Using Secondary Data**:

- Check reliability, suitability, and adequacy of the data.

7. **Key Differences Between Primary and Secondary Data**:


- Source, originality, cost, and usage differ significantly.

8. **Statistical Tools Used in Data Collection**:

- Questionnaires, schedules, and interviews are common tools.

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