Answer the Question. -In a Study to Determine the Most Popular Automobile on Popular

question 153

Multiple Choice

Answer the question.
-In a study to determine the most popular automobile on the road, which of the following is the most representative sample?

• A)A random sample of the cars parked at a local high school
• B)A random sample of the cars that drive by your house
• C)A random sample of the cars parked at an airport
• D)A random sample of the cars driving on the highway

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Definitions:

Substitutes Available

Products or services that can be used in place of one another, providing consumers with choices in the marketplace.

Elastic

Describes a situation in which the quantity demanded or supplied changes significantly in response to a change in price.

Demand

The desire of consumers, backed by the ability and readiness to purchase, for specific goods or services at a given time.

Downward-Sloping

A graphical representation indicating a decrease or decline in value or quantity when plotted against another variable, often used in economics to describe demand curves.