In Contrast to Assessment,evaluation

question 9

Multiple Choice

In contrast to assessment,evaluation:

• A)measures how well a program is doing.
• B)measures how high a center's fees are.
• C)measures were the children are developmentally.
• D)Is always done only by an outside agency.

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Definitions:

Perfectly Elastic

A situation where the demand or supply responds infinitely to changes in price, resulting in a horizontal demand or supply curve.

Perfectly Inelastic

A market condition where the quantity demanded or supplied does not change in response to price changes; the demand or supply curve is perfectly vertical.

Relatively Elastic

Describes a situation where a small change in price leads to a significant change in quantity demanded or supplied.

Marginal Revenue

The additional income received from selling one more unit of a good or service, vital for decision-making in firms.