When Used as a Data Gathering Instrument Respondents Are Asked

question 10

Multiple Choice

When used as a data gathering instrument respondents are asked to:

• A)Rate the vignettes.
• B)To view the vignette and then to comment on it.
• C)Critique the vignette.
• D)Investigate the vignette.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.

Monopsony Power

The market power held by a single buyer to influence the price at which they purchase goods or services.

Elasticity Of Supply

The degree to which the quantity supplied of a good changes in response to a change in its price.

Marginal Value

The additional benefit received by consuming or using one more unit of a good or service.