Market Exchange Is

question 15

Multiple Choice

Market exchange is:

• A)found only in state societies.
• B)the primary distribution mechanism in most societies today.
• C)never found in horticultural and agricultural societies.
• D)the only true rational economic system that exists today.
• E)found universally in all societies today.

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Definitions:

Tree Diagram

A graphical representation of all possible outcomes of a sequence of events, each branching out from the previous one.

Graphical Method

A technique of solving mathematical problems by representing them with graphs.

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact by controlling and varying one or more variables.

Mutually Exclusive

Events that cannot occur at the same time, implying that the occurrence of one event excludes the occurrence of the other.