If a Good or Service Satisfies a Human Need, It

question 84

Multiple Choice

If a good or service satisfies a human need, it has

• A) value.
• B) focus.
• C) magnitude.
• D) form.
• E) utility.

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Definitions:

P(A Or B)

P(A Or B) represents the probability that either event A or event B occurs, including the case where both may occur.

Probability Tree

A diagram that shows the possible outcomes of a series of related choices or events, and their probabilities.

Marital Status

A legal or social recognition of a person's relationship status, often categorized as single, married, divorced, or widowed.

Independent

When two events or variables have no direct influence on each other in a statistical context.