In One Particular Area, 50 Per Cent of the Population

question 34

Multiple Choice

In one particular area, 50 per cent of the population who died in 2002 were older than 85. Thus, 85 would be the ____ longevity.

• A)maximum
• B)useful
• C)average
• D)modal

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Definitions:

Circular-Flow Diagram

A visualization of the economy that shows how dollars flow through markets among households and firms, highlighting the interactions between product and resource markets.

Factor Market

A factor market is the marketplace where productive resources like labor, capital, and natural resources are bought and sold.

Product Market

A marketplace where finished goods and services are bought and sold.

Product Market

The marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector.