Polling Firms Respond to the Difficulties of Obtaining a Body

question 14

Multiple Choice

Polling firms respond to the difficulties of obtaining a body of respondents that truly reflects the population at large by:

• A) sampling the responses of the target group.
• B) weighting the responses of various groups.
• C) randomly selecting the best responses.
• D) counting the number of positive responses.
• E) counting the number of negative responses.

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Definitions:

Equilibrium Price

The charge for which the desired quantity of a good or service is identical to the quantity that is supplied, resulting in a balanced market situation.

Inferior Good

An item whose demand falls when consumer income rises, contrasting with normal goods where demand increases with income.

Technological Advancement

The process of developing and applying new technologies to improve products, processes, or services.

Equilibrium Quantity

When the market is at equilibrium, the supply of goods or services is identical to the demand at that price.