When Markets Fail to Allocate Resources Efficiently, the Ultimate Source

question 19

Multiple Choice

When markets fail to allocate resources efficiently, the ultimate source of the problem is usually

• A) government regulation.
• B) that prices are not low enough so firms overproduce.
• C) that prices are not high enough so people over consume.
• D) that property rights have not been well established.

Understand the importance and challenges of obtaining random samples in psychological research.

Grasp the concept and importance of response rates in survey research.

Differentiate between probability and nonprobability sampling techniques.

Recognize various sampling methods used for predictions, such as in election outcomes.

---

Definitions:

Axillary Crutches

Mobility aids that are used to transfer weight from the legs to the upper body, specifically designed to fit under the armpits.

Too Long

A description indicating that something has exceeded an expected or desired length, duration, or extent.

Mobility Aid

Device that improves one’s ability to move from one place to another; also called mobility assistive device.

Adjustable

Capable of being modified or altered to suit different conditions or a user's needs.