________ Is a Quantitative Method That Uses Structured Interviews to Ask

question 74

Multiple Choice

________ is a quantitative method that uses structured interviews to ask large numbers of people the same set of questions.

• A)In-depth interviewing
• B)Survey research
• C)Focus group interviewing
• D)Observation research
• E)Ethnographic research

---

Definitions:

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantitatively expressed as the percentage change in quantity demanded divided by the percentage change in price.

Inelastic

An inelastic good or service has a demand that does not change significantly when its price goes up or down.

Insensitive to Price

A characteristic of demand wherein the quantity demanded by consumers changes very little with a change in the product's price.

Unit Elastic

A situation in economics where the percentage change in quantity demanded is equal to the percentage change in price, resulting in no change in total revenue.