Examlex
Demand is labeled as ________ when a large change in price produces only a small change in demand.
Random Sample
A method of selecting a sample from a population in which each member has an equal chance of being chosen.
External Validity
The extent to which the results of a study can be generalized to other situations and to other people.
Internal Validity
The extent to which a study establishes a trustworthy cause-and-effect relationship between a treatment and an outcome.
Institutional Review Board (IRB)
A committee that reviews and monitors research involving human participants to ensure ethical standards are maintained.
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