Data are numerical facts collected systematically for research purposes. Economists study phenomena and draw conclusions from collected data. There are two main sources of information: primary and secondary data. Primary data involves collecting original data directly from sources for a specific research purpose, such as through observation, interviews, questionnaires, or schedules. Secondary data refers to data that was originally collected by someone else for another purpose and has been published, such as government publications, journals, or reports.

2.  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. 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.

4.  Observation method
 Interview method
 Questionnaire method
 Schedule method

5. 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 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. 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. 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
 Schedules must be attractive

9. 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.

10. Sources of secondary data may be classified
broadly as internal and external. Internal
sources of data represents the data that are
already available with the research
organization. The information available with
outside organization are External.
There a re variety of published sources from
which one can get information for his
research work.

11. o Official publications of the central, state and local
governments.
o Official publication of the foreign governments and
international bodies like UNO and its subordinate
bodies.
o Technical journals, newspapers, books, periodicals,
etc.
o Publication of research organizations, centres,
institutes and reports submitted by economists,
research scholars etc.

12. 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.