Measures of Central Tendency Refer to Which Part of the Frequency

question 107

Multiple Choice

Measures of central tendency refer to which part of the frequency distribution?

• A) the high end of the distribution
• B) the middle of the distribution
• C) the low end of the distribution
• D) the very end of the distribution

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Definitions:

External Benefits

Positive effects enjoyed by a third party when an economic transaction takes place, without them paying for the benefits received.

Demand Curve

A graphical representation that demonstrates the relationship between the price of a good and the quantity demanded by consumers at various price levels.

Education

The process of facilitating learning, acquiring knowledge, skills, values, beliefs, and habits through various means such as teaching, training, storytelling, and research.

Corrective Tax

A tax designed to incentivize economic activities that are more socially desirable or to correct market imperfections.