The major advantage of survey research is its ?
Correct answer: D. flexibility
- A. simplicity
- B. structure
- C. organization
- D. flexibility
Explanation
Survey research is valued for its flexibility because researchers can question many people about different attitudes, behaviours, and characteristics using varied formats. Its structure is useful, but flexibility is the broader advantage identified here.
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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.
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