SCENARIO 3-12
Given below are the rating and performance scores of 15 laptop computers.
-Referring to Scenario 3-12,how will you classify the linear relationship between the performance scores and the rating?
Definitions:
Entrepreneurs
Individuals who, rather than working as employees, run a business and assume all the risks and rewards of a given business venture, idea, or good or service offered for sale.
Allocative Efficiency
A state of resource distribution where resources are allocated in a way that maximizes the total benefit received by all members of society.
Purely Competitive Industry
An industry characterized by many small firms producing identical products, where no single firm can influence the market price.
Demand
The volume of goods or services that consumers are prepared and financially able to buy at a range of prices within a set period.
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