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In a multi-phase study Sue begins by conducting a focus group. She then uses that information to develop a written measure that is administered to a new group of participants. By using different measures to assess the same topic of interest, Sue is using:
Explicit Cost
Direct, out-of-pocket payments for goods or services used in the production of a product or offering of a service.
Sole Proprietor
An individual who owns and operates a business alone, bearing all the responsibilities and benefits of the business.
Short Run
A timeline in economics where at least one factor of production is fixed, constraining the ability to adjust to changing economic conditions.
Long Run
In economics, a period of time in which all factors of production and costs are variable and can be adjusted.
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