Important in Judging the Worth of Any Theory Is the Question

question 28

True/False

Important in judging the worth of any theory is the question, "How parsimonious is it?" In other words, how well does it explain real-world outcomes of media use.

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Definitions:

Marginal Productivity

The extra output that a business gains by adding one more unit of input, such as labor or capital.

Income Distribution

The way in which a country’s total GDP is spread amongst its population, affecting economic equity and quality of life.

Value Added

The increase in the value of a product or service as it passes through each stage of production or supply chain.

Marginal Productivity

The extra output or benefit gained from increasing one unit of a particular resource while keeping other resources constant.