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Norm-Referenced Testing and Assessment Is Both a Method of Evaluation

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Norm-referenced testing and assessment is both a method of evaluation and a way of deriving meaning from tests scores.Individual testtaker scores are evaluated against


Definitions:

Marginal Opportunity Cost

By deciding on one route, one foregoes the possible advantages that other routes could have offered.

Long-run Equilibrium

The state in which, over time, supply and demand are balanced, and all adjustments to economic conditions have been made, resulting in stable prices and outputs.

Marginal Cost

The hike in expense for producing another unit of a product or service.

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