What Is the Defining Characteristic of a Random Sample

question 105

Multiple Choice

What is the defining characteristic of a random sample?

• A) It consists of an equal number of men and women.
• B) It is created by asking questions of people who randomly happen to walk by.
• C) It gives each person in the population of interest an equal chance of being chosen.
• D) It ensures that every person in the sample represents a specific racial, gender, or religious group.

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Definitions:

Productive Efficiency

A situation in which an economy or entity is operating in such a way that it cannot produce more of one good without producing less of another.

Creative Destruction

The process by which new innovations cause older technologies, companies, or products to become obsolete, driving economic growth through continuous renewal.

Dominant Firms

Companies that have a major portion of market share and can significantly influence market conditions and prices.

New Products

Items or services that have recently been introduced to the market and offer new features, functionalities, or benefits to consumers.