An Example of a Continuous Variable Would Be

question 81

Multiple Choice

An example of a continuous variable would be

• A) a respondent's gender
• B) the number of televisions in a household
• C) the number of children in a household
• D) the income of a respondent

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Definitions:

Opportunity Costs

The penalty of overlooking the next most advantageous option when a choice is made.

Efficient

Achieving maximum productivity with minimum wasted effort or expense.

Production Possibility Frontier

A graphical representation showing the maximum combination of goods and services that can be produced using all available resources efficiently.

Full Employment

A situation where all available labor resources are being used in the most economically efficient way.