Academic Majors Such as Psychology Are ______ Variables

question 2

Multiple Choice

Academic majors such as psychology are ______ variables.

• A) categorical
• B) ordinal
• C) interval
• D) ratio

Discuss the implications of media homogeneity and diversity on consumer choice and culture.

Understand the influence of economic forces on media production and distribution.

Recognize the impact of media platform dynamics, including content availability and advertisement on media consumption.

Appreciate the role of media outlets in shaping political views and the importance of media pluralism.

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Definitions:

Price Floor

A government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service.

Supply Function

A mathematical relation showing the amount of goods a supplier is willing and able to provide to the market at various prices, holding all other factors constant.

Demand Function

A demand function quantifies the relationship between the price of a good and the quantity demanded by consumers, holding other factors constant.

Supply Curve

A supply curve graphically represents the relationship between the price of a good and the quantity of the good that producers are willing and able to supply, typically sloping upwards.