Using Known Information Known About a Total Population Before Sampling

question 18

Multiple Choice

Using known information known about a total population before sampling is known as ______.

• A) stratified random sampling
• B) random digit dialing
• C) sampling
• D) generalizability

---

Definitions:

Benevolent Social Planner

A hypothetical figure in economics who makes decisions aimed at achieving the best possible outcomes for society overall, considering both efficiency and equity.

Market Power

The ability of a firm or group of firms to significantly control or influence market prices, often due to lack of competition.

Price Discrimination

An approach to setting prices where a provider charges different rates for the same or very similar items in various markets.

Resale Of Goods

The act of selling previously owned or used products to another party.