Explain Why Use of the Systematic Observation Technique Is Likely

question 3

Essay

Explain why use of the systematic observation technique is likely to increase the internal validity of a study.

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Definitions:

Highest Possible Price

The maximum price that a product or service can achieve in a market under current conditions.

Lowest Possible Price

the minimum price at which a good or service is offered, considering all factors including cost, demand, and competition.

Income Elasticity

A measure of how much the demand for a good or service changes in response to a change in income.

Entire Incomes

The total earnings received by an individual or household from various sources, including wages, salaries, and investments.