The Primary Economic Explanation as to Why a World-Renowned Architect

question 53

Multiple Choice

The primary economic explanation as to why a world-renowned architect cannot attain the "superstar" status that an athlete or actor can attain is that

• A)architects' services are not as highly valued by society as are the services of athletes and actors.
• B)only physically attractive people can become superstars, and it would be a coincidence if a highly talented architect were also physically attractive.
• C)government regulations place restrictions on the incomes of architects, but there are no such restrictions on the incomes of athletes or actors.
• D)it is impossible, currently, for an architect to supply his or her services at low cost to every customer.

Use z-scores to identify outliers within a dataset.

Interpret the implications of changing mean and/or standard deviation on the distribution of data.

Relate concepts of normal distribution to standardized scores (z-scores) and their applications in testing and assessments.

Understand the concept and characteristics of the normal distribution.

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Definitions:

Division Of Labor

Allocating distinct sections of a manufacturing operation or duty to various people to boost efficiency.

Assembly Process

The stage in manufacturing where components are put together to create a final product.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs, including resources and technology.

Quantity Of Produced

The total amount of goods and services produced by an economy or business within a specific period.