Methodology and processes
Explain value neutrality
Ans. may vary; reference to absence or reduced biases (as much as possible) when conducting research
Name and explain the 3 laws of economics
Self interest, competition, supply and demand
One of the well known conflict theorist that favored a command economy
Karl Marx
The demand usually increases when the supply increases
F
_______________ is often used to determine problems/issues and the level of satisfaction a client(s) experience.
Needs assessment
Social structures which are concerned with the production and distribution of goods and services
economic institutions
Wrote the "Wealth of nations"
Adam Smith
The supply increases when the demand decreases.
Relatively true ; or it stays the same
This can be classified as a retrospective study/research.
Evaluation research
This type of economy relies on the rules of demand and supply; here, government only oversees the economy.
market economy/free market/capitalist system
Known for his "division of labor" and views on bureaucracy
Weber
When purchasing power decreases the demand may also decrease.
T
Contrast qualitative and quantitative data
Quantitative data is anything that can be counted or measured; it refers to numerical data. Qualitative data is descriptive, referring to things that can be observed but not measured—such as colors or emotions
Here the state determines what and how much to produce. What type of economy is it?
command economy
Believed that religion was the opium of the masses
Marx
Adam Smith promoted free market economy.
T
Name/list out the 7 steps in market research
Test idea, improve idea, plan research, observe market, qualify demand, quantify demand, finalize
We can expected __________ to occur more in companies when the level of automation increases.
downsizing
Tried to analyze the division of labor from a social rather than economic perspective
Durkheim
Explain "Game theory"
Game theory studies interactive decision-making, where the outcome for each participant or "player" depends on the actions of all. If you are a player in such a game, when choosing your course of action or "strategy" you must take into account the choices of others.