Useful for Comparing the Size of Each Category with the Whole

question 140

Multiple Choice

useful for comparing the size of each category with the whole (ie the proportion of the whole population falling in each category) . A bar graph is more useful for comparing the sizes of different categories with each other. Find the mean of the set of data.
-1, 11, 12, 7, 9

• A)8
• B)9
• C)41
• D)10

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Definitions:

Demand Curves

Graphical representations showing the relationship between the price of an item and the quantity demanded by consumers.

Market Demand Curve

A graphical representation showing the quantity of goods consumers are willing and able to buy at various prices within a given timeframe.

Law of Demand

An economic principle stating that as the price of a good or service increases, the demand for it decreases, and vice versa, all else being equal.

Perfectly Competitive Markets

Markets characterized by many buyers and sellers, homogenous products, freedom of entry and exit, and perfect information, where no single participant can influence the market price.