The Benefit of Using a Nonprobability Sample Is That the Results

question 70

True/False

The benefit of using a nonprobability sample is that the results of the research can be generalized to the population from which it was drawn.

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Definitions:

Consumer Surplus

The gap reflecting the difference between what consumers plan to pay for a good or service and what they pay in practice.

Surplus III

Excess of production or supply over demand in a market, leading to potential price reductions to clear the surplus stock.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from trading a good or service.

Equilibrium Price

Equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded.