Consider a Fixed-Alternative Question Lists Ten Possible Services That Could

question 51

Short Answer

Consider a fixed-alternative question lists ten possible services that could be provided by a local bank and asks respondents to check as many as apply such as: "Which of the following banking services do you currently use for First City Bank?" Such a question is a(n)____________________ question.

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Definitions:

Money Income

The total income a person or entity receives in monetary form, including wages, salaries, benefits, and income from investments.

Marginal Rate

A term used to describe the rate at which one variable changes as another variable changes by a single unit, often applied in economic analysis like the marginal tax rate or marginal rate of substitution.

Substitution

The act of replacing one good or service with another due to changes in price or preference.

Price Ratio

The relative price of one good or service in comparison to another, often used in economic analysis and decision-making.