Judgment Sampling Occurs When a Person Who Is Extremely Knowledgeable

question 81

True/False

Judgment sampling occurs when a person who is extremely knowledgeable about the population under consideration selects the population element(s)that they feel is(are)most representative of the population.

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Definitions:

Bank Tellers

Employees at financial institutions who deal directly with customers, handling routine banking transactions.

Substitute

A product or service that can replace another, offering consumers an alternative choice.

Imperfect Competition

Imperfect competition describes a market structure where the conditions necessary for perfect competition are not met, including markets with monopolies, oligopolies, and monopolistic competition.

Marginal Productivity Theory

An economic principle that explains how the amount of extra output gained by employing an additional unit of input declines as more of that input is used.