The Tendency of the Respondents to Give Answers That May

question 50

True/False

The tendency of the respondents to give answers that may not be accurate but that may be desirable from a social standpoint is called social desirability.

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied equals the quantity demanded at the market equilibrium price.

Efficiency

The optimal use of resources to achieve the desired outcome with minimal waste or effort.

Equity

Refers to fairness or justice in the distribution of wealth, resources, and opportunities.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefit to society.