Provide an Appropriate Response

question 13

Essay

Provide an appropriate response.
-Explain the differences between cluster sampling and stratified sampling.

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Definitions:

Economic Units

Entities such as individuals, households, and firms that make decisions about the allocation of resources and the consumption of goods and services.

Economic System

The organized way a society allocates its resources and apportions goods and services in the national community.

Normative Economics

The branch of economics that applies value judgments to data to recommend actions or policies, focusing on what ought to be rather than what is.

Macroeconomics

The branch of economics that examines the economy as a whole, including issues like inflation, unemployment, and economic growth.