A Bar Chart Is the Same as a Histogram

question 54

True/False

A bar chart is the same as a histogram.

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Definitions:

Excess Demand

A market condition where the quantity demanded of a good exceeds the quantity supplied at a given price, often leading to price increases.

Supply

The total quantity of a good or service that the market can offer.

Demand

The amount of a product or service that consumers are willing and able to purchase at various prices during a specified period.

Equilibrium

A situation where the amount of goods available in the market matches what consumers want to buy, leading to stable prices and consistent availability.