What Term Describes the Method of Gathering Data by Means

question 55

Short Answer

What term describes the method of gathering data by means of observing behaviors in real-world settings, making no effort to manipulate or control the situation?

---

Definitions:

Marginal Cost

The growth in the cumulative expense incurred from creating one more unit of a product or service.

Nonrival

A characteristic of a good or service where its use by one person does not reduce its availability to others.

Consumption

The use of goods and services by households or individuals, constituting one of the primary components of economic activity.

Demand-side Market Failure

A situation where the quantity of a product demanded by consumers does not equate to the quantity supplied by producers due to externalities or imperfect information, leading to an inefficient allocation of resources.