The Change in the Quantity Demanded of a Good Resulting

question 25

Multiple Choice

The change in the quantity demanded of a good resulting from a change in relative price with the level of satisfaction held constant is called the ________ effect.

• A) Giffen
• B) real price
• C) income
• D) substitution

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Definitions:

Positivism

The idea that phenomena are governed by, and can be explained by, rules based on objective observation and generalizations from those observations.

Explanation

An attempt to account for the relationships observed among phenomena. A basic goal of communications research is to explain how and why communication phenomena occur.

Two-tailed Hypothesis

A type of hypothesis that predicts either an increase or decrease in outcomes, requiring evidence for significant change in either direction.

Closed-ended Research

Research methodology that uses predefined responses to questions, allowing for easy quantification of data.