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Determine the size of the sample space for the experiment described.
-A group of 19 people are assigned numbers 1 through 19. State the number of elements in the sample space of the event choosing a person with a number 5 or less.
Import Tariff
A tax imposed by a government on goods and services imported into its country to protect domestic industries from foreign competition.
Supply and Demand
Economic model of price determination in a market, showing the relationship between the quantity of goods that producers wish to sell at various prices and the quantity consumers wish to buy.
Specific Tax
A fixed amount taxed per unit of a good or service, as opposed to a percentage of the price.
Fraction
A numerical quantity that is not a whole number, represents a part of a whole, typically written with a numerator and a denominator separated by a slash.
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