Nancy, a Teacher, Creates a Table Using Excel to List

question 1

Multiple Choice

Nancy, a teacher, creates a table using Excel to list the number of students in her class. She uses rows and columns to add subject names and the grades received by each student. Nancy's table is also called a ________.

• A) spreadsheet
• B) notepad
• C) clip art
• D) pie chart

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Definitions:

Competitive Industry

An industry characterized by many firms, free entry and exit, and a product for which every seller is a price taker.

Perfectly Elastic

A situation in which the quantity demanded or supplied changes infinitely in response to any change in price, represented by a horizontal demand or supply curve.

Input Prices

The cost of resources used in the production process, including labor, materials, and capital.

Price Ceilings

Legal maximum prices set for particular goods and services, intended to protect consumers from very high prices.