The Concepts of Range of Convenience and Focus of Convenience

question 14

Multiple Choice

The concepts of range of convenience and focus of convenience suggest that

• A) it is more convenient to use some theories for some things and other theories for other things.
• B) theories cover a range of phenomena and work best at points within this range.
• C) different theories work well with many research methods and best with some.
• D) different theories work well with many assessment techniques and best with some.

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Definitions:

Loss-Minimizing

A strategy or approach aimed at reducing losses as much as possible, often used in business and economic contexts.

Marginal Cost

The cost incurred by producing one additional unit of a good or service.

Output

The total amount of goods and services produced by an economic system.

Most Efficiently

Operating in a way that maximizes productivity or benefits while minimizing waste and costs.