If Individuals 4 and 7 Have a Child, What Is

question 1

Multiple Choice

If individuals 4 and 7 have a child, what is the probability that the child will exhibit the trait?

• A)1/4
• B)1/2
• C)1/6
• D)2/3
• E)0

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Definitions:

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interests unintentionally benefit society as a whole.

Price Mechanism

The way in which prices rise and fall as a result of changes in demand and supply, guiding the allocation of resources in a market economy.

External Benefit

A benefit from a good or service that is received by someone not directly involved in the transaction or production of that good or service, also known as a positive externality.

Pollution

The introduction of contaminants into the natural environment that cause adverse changes and harm to the ecosystem.