Which of the Following Sets of Outcomes Is Mutually Exclusive

question 85

Multiple Choice

Which of the following sets of outcomes is mutually exclusive?

• A)win, lose, tie
• B)employed full-time, employed part-time, unemployed
• C)married, single, widowed
• D)All of the above.

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Definitions:

Factor Distribution

The way in which income and wealth are shared among different factors of production, such as labor and capital.

Income

The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.

Derived Demand

The demand for a good or service that arises from the demand for another good or service. For example, the demand for steel is derived from the demand for cars.

Factor Market

A market where factors of production (such as labor, capital, and land) are bought and sold, different from markets for goods and services.