External Validity Is Typically More Important for ______ Research Than

question 60

Multiple Choice

External validity is typically more important for ______ research than for ______ research.

• A) scientific; non-scientific
• B) non-scientific; scientific
• C) basic; applied
• D) applied; basic

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Definitions:

Rational Self-interest

Acting in a way that is most beneficial to oneself, based on logical and reasoned decision-making.

Utility

In economics, the satisfaction or benefit derived from consuming a product or service.

Opportunities

Circumstances that make it possible to do something, often leading to new ventures or investments in economics.

Scarcity

The limits placed on the amounts and types of goods and services available for consumption as the result of there being only limited economic resources from which to produce output; the fundamental economic constraint that creates opportunity costs and that necessitates the use of marginal analysis (cost-benefit analysis) to make optimal choices.