Conclusion

Economic facts expressed in numbers are called data, and the purpose of collecting them is to understand, explain and analyse a problem and the causes behind it.

Primary data are obtained by conducting a survey, which must be planned carefully through a series of steps — preparing the instrument, choosing the mode of collection, and pre-testing it. Various agencies collect, process, tabulate and publish statistical data, and those figures serve everyone else as secondary data. Ultimately, the **cho …