A Cluster or Collection of Instances That Share Characteristics or Features

question 33

Multiple Choice

A cluster or collection of instances that share characteristics or features are called ___________.

• A) Variables
• B) Concepts
• C) Categories
• D) Indicators

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Definitions:

Inferior Good

A type of good whose demand decreases when consumer income rises, contrary to normal goods, which see increased demand as incomes rise.

Inferior Good

A type of good whose demand decreases when the income of consumers increases.

Normal Good

An item whose demand escalates as the income of consumers increases, and contracts when their income decreases.

Successively Less

Refers to a situation or process where there is a gradual decrease in quantity, quality, or intensity over time.