When Researchers Want to Draw a Random Sample of Consumers

question 21

Short Answer

When researchers want to draw a random sample of consumers or households, they often use
, in which geographic areas and/or housing units are randomly selected and people within are approached for personal interview.

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Definitions:

Common Resource

A resource like air or water that is not owned by anyone, but is available for use by everyone, often leading to overuse and depletion.

Marginal Social Benefit

The extra advantage to the community when one additional unit of a product or service is made.

Negative Externalities

External costs.

Marginal Social Cost

Marginal social cost is the total cost society bears for the production of an additional unit of a good or service, considering both private costs and any external costs.