The Reading and Writing Skills of the Respondents and Their

question 15

True/False

The reading and writing skills of the respondents and their motivation to cooperate are two salient considerations in choosing a mode of data collection.

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Definitions:

Total Revenue

The total amount of money generated from the sale of goods or services before any costs or expenses are deducted.

Price Elasticity

The extent to which the amount of a good that is sought after moves due to a difference in price.

Price Reduction

A decrease in the amount charged for a good or service, often used as a sales strategy to increase demand or respond to excess supply.

Demand Elastic

The responsiveness of the quantity demanded of a good or service to a change in its price; higher elasticity means consumers are more sensitive to price changes.