It Is Important to Select the Right Variable with Which

question 11

Multiple Choice

It is important to select the right variable with which to measure some phenomenon. A good measure must:

• A) Be true to the underlying concept you're researching.
• B) Defined so that any other researcher can repeat it.
• C) Both a and b
• D) Neither a nor b

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Definitions:

Externalities

Economic side effects or consequences of commercial activities that affect other parties without being reflected in the cost of the goods or services involved.

Common Resources

Resources that are accessible to all members of a society but are susceptible to overutilization and depletion.

Private Good

A product or service that is excludable and rival in consumption, meaning only those who pay for it can consume it, and one person’s consumption prevents another's.

Common Resource

A type of good that is non-excludable but rivalrous, meaning it's available to everyone but its consumption by one individual diminishes its availability for others.