Selecting a Subset of Clusters and Then Selecting a Sample

question 57

Multiple Choice

Selecting a subset of clusters and then selecting a sample of elements in each of those clusters is referred to as

• A)stratified cluster sampling
• B)convenient cluster sampling
• C)single-stage cluster sampling
• D)two-stage cluster sampling

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Definitions:

Collusion

An agreement between competing firms to control prices or exclude entry of a new competitor in the market, often in secret, to reduce competition and increase profitability.

Cutthroat Competition

An intense form of competition in a market where competitors aggressively undercut each other's prices or use other aggressive tactics to gain market share.

Concentration Ratios

Measures that indicate the extent to which a small number of firms dominate an industry or market.

Concentration Ratio

A measure used to denote the market share or dominance of the largest firms within an industry, indicating the level of competition.