What Is NOT a Characteristic of Markets

question 21

Multiple Choice

What is NOT a characteristic of markets?

• A) Firms decide whom to hire and what to produce.
• B) Government policies do not affect the decisions of firms and households.
• C) Households decide which firms to work for and what to buy with their incomes.
• D) Firms and households guide the decisions based on profit and self-interest.

---

Definitions:

Salience

The quality of being particularly noticeable or important; in research, it refers to features that stand out and are likely to influence perceptions and behaviors.

Ecological Validity

The extent to which the findings of a study are applicable and relevant to real-life settings.

Internal Validity

The degree to which a study establishes a trustworthy cause-and-effect relationship between a treatment and an outcome.

Generalizability

The extent to which the findings from a study can be applied or extended to broader populations, settings, or times.