The Suitability of Criteria Is the Basis on Which the Information

question 14

Multiple Choice

The suitability of criteria is the basis on which the information about the subject matter is prepared and measured.It is normally based on:

• A)relevance and reliability.
• B)neutrality and completeness.
• C)understandability.
• D)all of the above.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in its price, indicating the sensitivity of consumers or producers to price changes.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

Price Elasticity Of Demand

The ratio of the percentage change in quantity demanded of a product or resource to the percentage change in its price; a measure of the responsiveness of buyers to a change in the price of a product or resource.

Percentage Changes

Calculations that measure the degree of change over time, expressed as a percentage to highlight growth or decline in quantitative data.