"Data Indicate That People Who Prefer to Watch Televised News

question 73

Multiple Choice

"Data indicate that people who prefer to watch televised news programs are less knowledgeable than those who read newspapers and newsmagazines." This statement is an example of a(n)

• A)causality.
• B)correlation.
• C)independent variable.
• D)law.

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Definitions:

Industry Entry

The process of a new competitor or company beginning operations in a particular market.

Economic Profit

Economic profit is the surplus obtained after subtracting both the explicit and implicit costs from total revenues, emphasizing the opportunity costs of resources used.

Economic Loss

A decrease in monetary value, wealth, or resources, especially as a result of business activities or market factors.

Industry Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output of the industry for that good.