Group Intelligence Tests

question 49

Multiple Choice

Group intelligence tests

• A) are efficient and cost-effective.
• B) can be useful as screening instruments.
• C) can be useful for research purposes.
• D) All of these

---

Definitions:

Price Floor

A price floor is a legally imposed minimum price set above the equilibrium price, preventing market prices from falling below it.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward-sloping.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period of time.

Price Floor

A government- or authority-imposed minimum price that can be charged for a commodity, often set above the equilibrium price, leading to a potential surplus of the product.