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Which of the following methods give better results and why? - Economics

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MCQ
Answer in Brief

Which of the following methods give better results and why?

Options

  • Census

  • Sample

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Solution

Sample Method gives better results than the Census Method due to the following reasons. 

1. Accuracy- Although the census method provides more accurate and reliable results as compared to the sampling method but in the sampling method the errors can be easily located and rectified in the sampling methods due to the smaller number of items. Therefore, despite the sampling method providing lesser reliable results (as not all units are studied) yet the sampling method is efficient in the sense that errors committed can be easily located.

2. Less Time and Energy Consuming- The Sample Method involves the study of fewer items of the universe. So, this method not only saves time but also the energy of the investigator.

3. Cost-Efficient- The cost of approaching each individual unit for interrogation and collection of data is comparatively lower due to the small size of the sample.

4. Lesser Non-sampling Errors- The probability of Non-sampling Errors is also low as the sample size is smaller as compared to that of the Census Method.

5. More Efficient- As the sample size is small, so small teams of enumerators can be formed. These small teams can easily be well-trained and supervised. Consequently, the team can work more efficiently than the team engaged in the Census Method. 

Concept: Concepts of Sampling
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APPEARS IN

NCERT Economics - Statistics for Economics Class 11
Chapter 2 Collection of Data
Exercise | Q 8. | Page 21
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