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Secondary data is generally less expensive than primary data. Here's why:
1. Secondary data is data that has already been collected by someone else for their own purposes. This data is often available from sources such as government agencies, research institutions, or other organizations. Since it already exists and doesn't require researchers to go out and collect it themselves, secondary data tends to be more cost-effective.
2. In contrast, primary data is collected firsthand by researchers through methods like surveys, interviews, or experiments. Collecting primary data can be time-consuming and costly because researchers need to design the study, recruit participants, and gather the data themselves.
In summary, secondary data is generally less expensive than primary data because it is readily available from existing sources, while primary data requires researchers to collect data from scratch.
