Which of the Following Statements Is Correct

question 114

Multiple Choice

Which of the following statements is correct?

• A) Economics is a natural science.
• B) In large measure, economics is the study of how people make choices.
• C) If poverty was eliminated there would be no reason to study economics.
• D) Economic analysis can be used to explain how societies, but not individuals, make decisions.

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Definitions:

Graphical Summary

A representation of data in a visual format, such as charts or graphs, to highlight patterns, trends, and summaries of the dataset.

Data Value

A specific measurement or piece of information that is collected for analysis.

Dot Plot

A statistical chart consisting of data points plotted on a simple scale, each dot representing a value.

Axis

A reference line used in graphs and charts to indicate values of variables.