If Two Events, a and B, Are Mutually Exclusive, Then $$P ( \mathrm {~A} \text { and } \mathrm { B } ) = P ( A ) \cdot P ( B )$$

question 30

True/False

If two events, A and B, are mutually exclusive, then $$P ( \mathrm {~A} \text { and } \mathrm { B } ) = P ( A ) \cdot P ( B )$$

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Definitions:

Scarce Resources

Resources that are limited in supply and cannot satisfy all human wants and needs.

Standard Of Living

A level of material comfort in terms of goods and services available to someone or some group.

Market Failure

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Allocate Resources

The process of distributing available resources among various competing needs and desires to achieve desired outcomes.