The Three Major Ways to Collect Data Are: Have a Person

question 9

True/False

The three major ways to collect data are: have a person ask the questions,have a computer assist or conduct the questioning,or allow the respondents themselves to complete the survey.

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Definitions:

Socially-Optimal Quantity

The level of production or consumption of a good that leads to the maximum welfare for society, considering both benefits and costs.

Market-Equilibrium

A state where the quantity of goods supplied equals the quantity of goods demanded, resulting in a stable price.

Negative Externality

A cost that is suffered by a third party due to an economic transaction that they were not involved in.

Well-Being

The state of being comfortable, healthy, or happy, reflecting the overall quality of a person's life.