What is the primary purpose of data coll

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Target Exam

CUET

Subject

Economics

Chapter

Collection of Data

Question:

What is the primary purpose of data collection in economics?

Options:

To create simple models

To reach a sound and clear solution to a problem

To understand economic problem of scarcity

To observe market trends

Correct Answer:

To reach a sound and clear solution to a problem

Explanation:

The correct answer is Option 2: To reach a sound and clear solution to a problem

The purpose of collection of data is to show evidence for reaching a sound and clear solution to a problem.