Ms Green Has Designed a Grading System Whereby Each Student

question 9

Multiple Choice

Ms. Green has designed a grading system whereby each student has a chance to earn an "A" in her class. Each exam, book report, and homework assignment is graded based on the how much total knowledge a student has mastered in that particular area. Ms. Green then just takes an average of all the smaller grades to assign overall grades. Ms. Green is using which of the following grading systems?

• A) contract system
• B) percentage grading system
• C) summative system
• D) total point grading system

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Definitions:

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Individual Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded by an individual consumer, holding other factors constant.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by anyone and one person's use does not reduce its availability to others.

Free-Rider Problem

A situation where individuals consume a public good without contributing to its cost, benefiting from the good without paying for it.