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Formative Evaluation Usually Involves Collecting Quantitative Data Through Tests or Objective

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Formative evaluation usually involves collecting quantitative data through tests or objective measures of performance.


Definitions:

Pollution Tax

A levy imposed on the emission or discharge of pollutants, intended to internalize the externality costs of pollution.

Workers Hired

The number of individuals employed by a company or organization for the purpose of performing specific jobs.

Product Market

A platform where end products or services are made available to individuals, businesses, and governmental agencies.

Monopsonist

A market condition where there is only one buyer facing many sellers, often leading to lower prices for suppliers.

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