Professor Parks Is Conducting a Research Study Where He Is

question 132

Multiple Choice

Professor Parks is conducting a research study where he is asking individuals to rate their satisfaction with their first year of college.His questionnaire is based upon a scale where students respond to questions by choosing one of the following descriptors: "5.very satisfied; 4.somewhat satisfied; 3.not very satisfied; 2.not at all satisfied." Professor Parks is gathering ____.

• A)valid data
• B)quantitative data
• C)qualitative data
• D)reliable data

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping, showing an inverse relationship between price and quantity demanded.

Concentration Ratio

A measure used in economics to assess the extent of market control by the top firms in an industry.

Oligopolies

A market structure characterized by a small number of large firms that dominate the market, often leading to limited competition and higher prices.

Collusion

An agreement, often illegal, between firms to limit competition by fixing prices, dividing markets, or coordinating production.