Qualitative Research Uses Open-Ended, Unstructured Questions, While Quantitative Research Uses

question 34

True/False

Qualitative research uses open-ended, unstructured questions, while quantitative research uses closed-ended questions with pre-defined possible responses and open-ended questions that have to be coded numerically.

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Definitions:

Efficient Outcome

An economic situation in which all resources are allocated in the most effective way possible, maximizing potential benefit.

Negative Externality

A negative effect or cost suffered by a third party due to an economic transaction they were not involved in.

Socially Optimal Price

The price of a good or service that reflects the true cost to society, accounting for externalities and ensuring allocative efficiency.

Transaction Costs

Expenses incurred when buying or selling goods and services, which can include fees, taxes, and other costs.