The Establishment of Norms, or Averages, in Order to Assess

question 52

Multiple Choice

The establishment of norms, or averages, in order to assess what is representative of the general population is called _________.

• A)reliability
• B)validation
• C)standardization
• D)construction

---

Definitions:

Barter Transactions

Economic exchanges where goods or services are directly swapped for other goods or services without the use of money as a medium of exchange.

Medium Of Exchange

An assisting mechanism utilized for the sale, acquisition, or exchange of commodities among different parties.

ATM Machines

Automated Teller Machines, which are electronic banking outlets that allow customers to complete transactions without the need for a branch visit.

Great Recession

A significant decline in economic activity spread across the economy, lasting from late 2007 to mid-2009, known for being the most severe economic downturn since the Great Depression.