Data Gathering Methods Are

question 29

Multiple Choice

Data gathering methods are:

• A)Elements of the theoretical framework.
• B)The means by which data is gathered for the research project.
• C)The means by which the data is analysed for the research project.
• D)The first thing to be decided on when undertaking a research project.

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Definitions:

Indifference Curves

Graphical representations in microeconomics showing combinations of two goods among which a consumer is indifferent, indicating equal utility.

Consumer's Preferences

The individual tastes and preferences that dictate the choices made by consumers regarding which goods or services to purchase.

Bundle

A combination of goods or services that are purchased together.

Optimal Choice

The best possible selection among various alternatives, considering constraints and objectives, to maximize or minimize desired factors such as utility, profit, or costs.