In Stratified Random Sampling,a Population Is Divided into Strata Using

question 23

True/False

In stratified random sampling,a population is divided into strata using naturally occurring geographic or other boundaries. Then,strata are randomly selected and a random sample is collected from each strata.

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Definitions:

Scarce Resource

A resource that is limited in availability and can be used up or depleted, making it valuable and subject to economic study for optimal use.

Unlimited Wants

The economic concept that humans have endless desires for goods and services.

Good

A tangible product used to satisfy human wants.

Basic Economic Problem

The fundamental issue of scarcity faced by societies, where there are limited resources to meet unlimited wants and needs.