Random Sampling Means That You ______

question 6

Multiple Choice

Random sampling means that you ______.

• A) don't have to develop a sampling procedure
• B) need a procedure to guarantee the same chance for every member of the population to be in the sample
• C) approach people on the street whom you meet by chance
• D) want to make the generalization of your findings possible

Identify different subsistence strategies and their historical significance.

Recognize the impacts of the Industrial Revolution on societies.

Grasp the concept of high-tech industries and their effects on social mobility and inequalities.

Comprehend the measurement and comparison of income inequality using the Gini index.

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Definitions:

Economies of Scale

The cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale.

Constant Returns to Scale

The condition where increasing all inputs by a certain factor leads to an increase in output by the same factor, indicating linear scalability in production processes.

Economies of Scale

Cost advantages that enterprises obtain due to scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Specialization of Labor

The division of labor where individuals or groups focus on specific tasks or jobs, increasing efficiency and productivity.