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When is secondary information used correctly?

Answer and explanation

Correct answer: When existing reports or data are used for initial market understanding

Secondary information is data already collected and published by another person or institution, such as reports, official statistics, articles, or earlier studies. It can help an entrepreneur understand market size, trends, or competitors quickly before deciding whether more primary research is needed. A direct new customer response is primary data, while a guess is not reliable evidence.

Related tags

Secondary DataMarket ResearchBusiness AnalysisEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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