A Controlled Experiment Is One That

question 15

Multiple Choice

A controlled experiment is one that

• A) proceeds slowly enough that a scientist can make careful records of the results.
• B) tests experimental and control groups in parallel.
• C) is repeated many times to make sure the results are accurate.
• D) keeps all variables constant.
• E) is supervised by an experienced scientist.

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Definitions:

Rivalry

(1) The characteristic of a private good, the consumption of which by one party excludes other parties from obtaining the benefit; (2) the attempt by one firm to gain strategic advantage over another firm to enhance market share or profit.

Excludability

The characteristic of a private good, for which the seller can keep nonbuyers from obtaining the good.

Private Good

A good, or service that is individually consumed and that can be profitably provided by privately owned firms because they can exclude nonpayers from receiving the benefits.

Quantity Demanded

The quantity of a product or service that buyers are prepared and financially able to buy at a certain price.