When a Population Is Divided into Subpopulations, Usually by Dollar

question 29

Multiple Choice

When a population is divided into subpopulations, usually by dollar size, and larger samples are taken from the subpopulation with the larger sizes, ________ is being used.

• A) sampling with probability proportional to size
• B) stratified sampling
• C) block sampling
• D) haphazard sampling

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Definitions:

Capitalist

A person who supports or engages in the principles of capitalism, a system where trade, industries, and the means of production are largely or entirely privately owned and operated for profit.

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating nature of the market economy driven by individuals' pursuit of their own interests.

Price Mechanism

The system by which the prices of goods and services are determined in a free market, based on the principles of supply and demand.

Central Planning Agency

An organization responsible for directing economic activity according to a comprehensive plan, often in a centrally planned economy.