Which of the Following Is the BEST Example of a Representative

question 168

Multiple Choice

Which of the following is the BEST example of a representative sample?

• A)You ask your fellow students to be participants in a study of adult memory.
• B)You choose people shopping in an expensive store in the mall to respond to your survey.
• C)You ask people from your church to participate in a study of family values.
• D)You choose people randomly from the telephone book to respond to your survey.

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Definitions:

Economic Profits

The surplus generated from business activities after accounting for both explicit and implicit costs, including opportunity costs, representing above-normal returns.

Explicit Costs

Direct, out-of-pocket payments for costs of production, such as wages, rent, and materials, that a company incurs in conducting its business.

Implicit Costs

Costs that represent the opportunity cost of using resources that a business already owns, rather than explicit outlays of cash.

Total Revenue

The total amount of money received by a company from selling goods or services before any expenses are subtracted.