Econometrics: What is cross-sectional data?

Hey,

So what is cross-sectional data?

Cross-sectional data is effectively a snap shot of a given population. For example if you wanted to achieve a measure of income levels in a country at a given point in time, you make decide to take a random sample of 10,000 people and survey these participants. Such a sampling process will give you a specific point in time where you can describe the income levels of the population as a whole based on your snap shot of the population in question.

Simple!

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