Final answer:
Open data provides widespread access to quality information and fosters the integration of data across different fields, offering a versatile resource for analysis and informed decision-making in society, particularly in economics.
Step-by-step explanation:
The question asks about the main benefits of open data. One of the fundamental benefits is that open data makes good data more widely available, aligning with the goal of fostering transparency and accessibility in various spheres of society, such as economics, politics, and social issues. With the ubiquity of data in the modern digital era, the ability to understand and interpret information is becoming a critical skill.
Another key benefit of open data is that it encourages the integration of data from different fields, creating a more comprehensive basis for analysis and decision-making. For example, combining data from diverse categories allows a multifaceted view of issues and enables informed conclusions.
Contrary to the notion that open data increases the amount of data available for purchase, open data is often freely accessible; hence that option is incorrect. Moreover, open data aims to democratize access rather than restricting it to certain groups, making the last option incorrect as well.
Data is particularly important in economic research and policy making. Platforms like the St. Louis Federal Reserve Bank's FRED database exemplify how user-friendly interfaces facilitate the use of data, offering a wealth of information on subjects such as Money, Banking & Finance and Population, Employment, & Labor Markets.
Open resources, such as the World Bank Open Data initiative, further illustrate how open access to data can lead to a deeper understanding of global development issues, supporting progress towards sustainable development goals.