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.

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.

 Observation

method Interview method Questionnaire method Schedule 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.

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.

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.

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

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.

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.

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

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.