One of the most common problems with using internal database information is that ?
Correct answer: A. since it was probably collected for some other purpose it may be incomplete or wrong
- A. since it was probably collected for some other purpose it may be incomplete or wrong
- B. it is usually expensive to retrieve
- C. top executives are usually unwilling to relinquish data therefore the data has limits
- D. the data is almost always unsecured and therefore, suspect as to reliability
Explanation
Internal database information was often collected for operational purposes rather than the current research question, so it may be incomplete, outdated, or unsuitable. This limitation is more common than high retrieval cost or lack of security.
Last updated
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,705 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Economics questions like this
Economics is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
Related questions
_____ 1954 study of U.S trade patterns showed that U.S exports were labor-intensive compared with U.S imports, even though the United States was widely regarded as a relatively capital-abundant nation ?
A attempts to limit outsourcing of jobs to foreigners by requiring that a minimum percentage of a product's value must be produced domestically if that good is to be sold in the domestic market ?
A binding price ceiling creates?
A borrower gives to creditor a security to grantee repayment of a loan. What is this security called ?
A buyer's willingness to pay is that buyer's ?