Consumers Need Information to Make Good Choices

question 100

Multiple Choice

Consumers need information to make good choices.Which of the following best describes a role of information in an economy?  

• A) It is abundantly available and therefore NOT as valuable 
• B) It is scarce and therefore valuable. 
• C) It is NOT easily available and therefore NOT valuable 
• D) It is abundantly available and therefore valuable.

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Definitions:

Statistical Tests

Procedures used in statistics to determine the significance or reliability of collected data or observed differences.

Quantitative Research

A systematic investigation technique that focuses on quantifying the collection and analysis of data, often using statistical tools.

Hypothesis

A proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Statistical Tests

Quantitative methods used to determine whether hypotheses about data are supported or refuted.