Validity Evidence Based on _________ ___________ Reflects the Extent to Which

question 49

Short Answer

Validity evidence based on _________ ___________ reflects the extent to which a test's items represent the domain or universe to be measured.

---

Definitions:

Marginal Cost

The expense involved in manufacturing an extra unit of a good or service.

Market Price

The current price at which an asset or service can be bought or sold, determined by the supply and demand dynamics in the marketplace.

Price-Taker Firm

A company that has no control over the market price and must accept the prevailing market price for its product or service.

Price-Taker Model

A market situation where individual firms do not have the power to set prices for their products, instead accepting the market price.