The Three Fundamental Economic Questions Are What, How, and Why

question 63

True/False

The three fundamental economic questions are what, how, and why.

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Definitions:

Central Tendency

A statistical measure that identifies the middle or center of a distribution of data, commonly represented by the mean, median, or mode.

Mean, Median, Mode

Statistical measures where mean is the average of a dataset, median is the middle value, and mode is the most frequently occurring value.

Professionalism

The exhibition of skills, good judgment, and polite behavior expected from a person who is trained to do a job well.