Briefly Define Internal and External Validity

question 78

Essay

Briefly define internal and external validity.

Understand the relationship between skill development, economic contribution, and personal income.

Appreciate the link between economic activities and income creation.

Understand the role of competitive capital markets in directing resources towards wealth-creating projects.

Analyze the factors influencing the purchase behavior of individuals post-graduation.

---

Definitions:

Tighter Collection

Refers to the implementation of more stringent policies or practices to accelerate the collection of receivables.

Collection Policy

Guidelines and procedures set by a company to manage and collect accounts receivable, or the money owed by customers.

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity available to run its operations.

Compensating Balances

A minimum account balance that a company agrees to maintain in a bank account to offset the cost of banking services provided.