Selection Bias Is a Systematic Tendency to Favor Including Individuals

question 35

True/False

Selection bias is a systematic tendency to favor including individuals with particular characteristics,while excluding individuals with other characteristics.

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Definitions:

Allocation of Resources

The process of distributing available resources among various uses in an economy to meet the needs and desires of individuals and entities.

Favored Customers

Clients who receive special benefits from sellers due to their status, volume of purchase, or long-standing relationship.

Excess Demand

Occurs when the quantity demanded of a good or service exceeds the quantity supplied at a given price, leading to shortages.

Nonprice Rationing

Distribution or allocation of goods and services based on criteria other than price, often used when there is a shortage.