Which of the Following Is NOT a Good Strategy for Using

question 69

Multiple Choice

Which of the following is NOT a good strategy for using dot charts productively?

• A)Use them for small data sets
• B)Use them to show correlations
• C)Label both horizontal and vertical axes
• D)Keep the dots small

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Definitions:

Substitution Effect

The economic principle that as the price of a good or service rises, consumers will replace it with cheaper alternatives, affecting the demand for goods.

Normal Good

A Normal Good is a type of good for which demand increases as the income of consumers increases and decreases when consumer income decreases, all else being equal.

Indifference Curve

A curve showing the different combinations of two products that yield the same satisfaction or utility to a consumer.