Which of the Following Is an Example of a Population

question 45

Multiple Choice

Which of the following is an example of a population?

• A)all of the microorganisms on your skin
• B)all of the students in your classroom
• C)all students attending colleges and universities in your state
• D)the various plants found in prairies in the western United States

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Definitions:

Perfect Substitutes

Perfect substitutes are two goods that can be used in place of each other with no loss of utility or preference by consumers.

Income Effect

Refers to the change in an individual's or economy's purchase of goods and services resulting from changes in income levels.

Substitution Effect

The change in consumption patterns due to a change in relative prices, holding the consumer's level of utility constant.

Price

The fiscal amount needed for the acquisition of a product or service.