2. METHODS
• Data are numerical facts. They are figures
collected in a systematic manner for a pre
determined purpose. Those figures are
aggregate of facts relating to one or more
phenomenon of study. It is from the data
collected that an economist study about a
phenomenon and draw conclusions.
3. SOURCES OF DATA
The sources of information are generally classified as
primary or secondary.
PRIMARY DATA
When the researcher himself is trying to collect the data
for his particular purpose from the sources available it
becomes primary data.
SECONDARY DATA
Secondary data are those data which have collected by
some other person for their purpose and published. So a
researcher is said to make use of secondary data if he
makes use of data already compiled by some other person.
Secondary data are in the shape of a finished products.
4. Various methods used for data
collection:
• Observation method
• Interview method
• Questionnaire method
• Schedule method
5. Observation method
Observation method as the name itself
indicates is based on observation. Observation
is keen and scientific study of a problem.
For example:- in a study of consumer
behavior the investigator instead of asking the
brand of wrist watch used by the respondent,
may himself look a the watch.
6. INTERVIEW METHOD
Interview method is a direct method of
collection of data, which is based on
interview. It is the most important methods of
collection of data. Through this method we
can know the views and ideas of other
persons. It s a method of social interaction.
Interviews can be conducted through personal
and telephone.
7. QUESTIONNAIRE METHOD
This is an important and very popular method
of data collection. This is adopted by
individuals, organization and government. In
this method, a questionnaire is prepared and
sent to respondent by post. It is a set of
questions. The success of this method depends
on the proper drafting of the questions.
8. SCHEDULE METHOD
It is a proforma containing a set of questions. This
proforma is filled by enumerators who are
specially identified for the purpose. The
enumerators are persons acting under the
direction of researchers.
Requisite of a good schedule
Accurate communication
Schedules must be attractive
9. CONCLUSION
Primary data are original in character because
the researcher himself collects the data.
Secondary data are not original. They
collected by somebody else. The researcher
only makes use of them.