Decide Whether or Not the Events Are Mutually Exclusive

question 77

Multiple Choice

Decide whether or not the events are mutually exclusive.
-Events A and B defined as follows A card is drawn at random from a deck of cards. Event A is that the card obtained is a face card
And B is the event that the card obtained is a spade.

• A)Yes
• B)No

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Definitions:

Property Rights

Property rights are the legal rights to use, control, and dispose of property, including land, buildings, or intellectual property.

Central Planning

A system where a nation's government makes all decisions regarding the economy, including resources allocation and production levels.

Unselfish Behavior

Actions that prioritize the welfare of others over one's own personal benefit.

Economic System

A particular set of institutional arrangements and a coordinating mechanism for solving the economizing problem; a method of organizing an economy, of which the market system and the command system are the two general types.