Which of the Following Is Not a Measure of Central

question 20

Multiple Choice

Which of the following is not a measure of central tendency?

• A) mode
• B) median
• C) mean
• D) standard deviation

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Definitions:

Close Substitutes

Products or services that can be used in place of each other, with minimal differences perceived by the consumer.

Substitutes

Products or services that can be used in place of each other, satisfying similar consumer needs or desires.

Demand Curve

The demand curve is a graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing to purchase at various prices.

Monopolist

A market participant that is the sole provider of a product or service, giving them significant control over pricing and market conditions.