If Every Individual in the Population Has an Equal Chance

question 113

Short Answer

If every individual in the population has an equal chance of being selected for a sample,the sample is said to be a/an ____________________ sample.
random

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Definitions:

Long Run

A period during which all factors of production and costs can be fully adjusted, allowing for a complete analysis of economic equilibrium and effects.

Expanding Plant

The process of increasing the size or capacity of a manufacturing or production facility.

Product Price

The financial outlay necessary to acquire a certain item or service.

Competitive Firm

A business that operates in a market where it has multiple competitors, and no single firm can influence the market price of goods or services.