Economics Is a Social Science That Involves the Study of How

question 279

Multiple Choice

Economics is a social science that involves the study of how individuals,firms,and societies:

• A) maximum happiness.
• B) maximize incomes.
• C) choose among alternatives to satisfy their unlimited wants.
• D) develop their tastes and preferences.

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Definitions:

Reliability Coefficient

The reliability coefficient is a measure that assesses the consistency or stability of a test score or instrument over time.

Correlation

Correlation is a statistical measure that expresses the extent to which two variables change together. If the variables tend to increase and decrease in relation to each other, the correlation is positive; if one increases as the other decreases, it is negative.

Construct Validity

The degree to which a measurement device accurately measures the theoretical construct it is designed to measure.

Reliability

The consistency and stability of measurements or assessments over time.