In the Term "Frequency Distribution," Frequency Refers to the Number

question 35

True/False

In the term "frequency distribution," frequency refers to the number of data values or measurements falling within each class.

---

Definitions:

Capital

Refers to financial assets or physical resources that are used in producing goods or providing services.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than others.

Comparative Advantage

An economic principle stating that countries or entities gain and benefit from trade when they specialize in producing goods for which they have a lower opportunity cost than their trading partners.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).