Diagrams That Use a Single Point to Show a Person's

question 35

Multiple Choice

Diagrams that use a single point to show a person's scores on two measures are called ____ plots.

• A)validity
• B)regression
• C)scatter
• D)normality

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Definitions:

Entrepreneurial Ability

The human resource that combines the other economic resources of land, labor, and capital to produce new products or make innovations in the production of existing products; provided by entrepreneurs.

Economic Profit

The surplus remaining after subtracting total costs, including both explicit and implicit costs, from total revenues, indicating the profitability of a business beyond breaking even.

Self-Interest

Refers to actions that elicit personal benefit or advantage, often guiding economic decision-making and behavior in the context of rational choice theory.

Consumer Sovereignty

The determination by consumers of the types and quantities of goods and services that will be produced with the scarce resources of the economy; consumers’ direction of production through their dollar votes.