A Key to Likert Scaling Is to Select Items That

question 26

True/False

A key to Likert scaling is to select items that differentiate between high and low scorers on the dimension being measured.

Understand the basic principles of market economics including the roles of supply and demand.

Recognize how prices adjust to eliminate shortages and surpluses and achieve market equilibrium.

Identify the effects of supply and demand shifts on market equilibrium.

Understand the concept of elasticity in relation to supply and demand.

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