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ECONOMICS MATTER
Page 1 intro to topic
In the realm of economics, data serves as the cornerstone upon which our
understanding of various economic phenomena is built. Just as a builder
meticulously selects the finest materials to construct a sturdy foundation,
economists carefully collect and analyze data to unravel the intricate workings of
our economic systems. Data collection in economics is not merely about numbers
and statistics; rather, it is a systematic process that empowers us to explore,
interpret, and ultimately shape the world around us. In this project, we embark
on a journey to uncover the pivotal role that data collection plays in economics,
delving into its significance, methods, and impact on our understanding of
economic principles and behaviors. Through this exploration, we aim to gain a
deeper appreciation for the invaluable role of data in illuminating the
complexities of economic phenomena and guiding informed decision-making in
the modern world.

There are two methods of data collection namely :- primary and secondary
in economics, primary data refers to original data collected firsthand by researchers
specifically for their own investigation or study. Primary data is considered to be more
reliable and accurate than secondary data, which is data collected by someone else for a
different purpose. Primary data allows economists to directly address their research
questions and hypotheses. It enables them to tailor data collection methods to their specific
needs and to control the quality and relevance of the data collected.

Primary data can be collected through many methods like personal interviews , telephonic
survey , questionnaires observations etc.

PAGE 2 –QUESTIONNAIRE

A list of questions relating to an enquiry is called a questionnaire. Questionnaires along with

a covering letter are sent to informants by post with a request to answer and return it
within a specified time period. These days online surveys are gaining popularity. this method
is suitable when the informants are literate. By this method a large field can be studied by

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this method, this can be used in the case where the informants are spread over a wide
geographical area. This is economical, original data is easily obtained which is free from
interviewer bias.

For the project , primary data is collected by the means of questionnaire method on the
topic “CONSUMER HABITS AND AWARENESS”.

Topic was chosen because most people still don’t know about rights and duties of the
consumer. To increase profits business firms tend to alter the goods and commodities they
are selling for example overcharging, underweighing, poor quality goods , misleading
advertisements , selling edible items beyond expiration dates etc. thus consumer awareness
is the need of an HOUR

Due to lack of proper knowledge of consumer courts , rights and steps taken by the
government to prevent this exploitation , many don’t know what to do .

This questionnaire is assessing how the consumer selects different goods in the market ,
which factors affect his choice , role of advertisements , their awareness regarding
increasing exploitation , their knowledge about the laws and steps by govt for protection of
rights of the consumer.

*attach the questionnaire*

*5 imp quest*