Which of the Following Is NOT TRUE of Paradigms

question 36

Multiple Choice

Which of the following is NOT TRUE of paradigms?

• A)Paradigms shape the kinds of observations we are likely to make.
• B)Paradigms determine the kinds of facts we will discover.
• C)Paradigms shape the conclusions that we draw from facts.
• D)Paradigms determine whether we look at micro or macro concerns.
• E)Paradigms are selected by a researcher to achieve desired results.

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Definitions:

Equilibrium

A situation in a market where the quantity demanded equals the quantity supplied, leading to a stable price.

Surplus

The excess of a good or service that occurs when the quantity supplied exceeds the quantity demanded; surpluses occur when the price is above the equilibrium price.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicative of the product's sensitivity to price changes.

Availability of Substitutes

The presence of alternative goods or services that consumers can switch to when prices rise or quality decreases, affecting market demand and competition.