A Very Important Aspect of Representative Samples Is That Their

question 83

Multiple Choice

A very important aspect of representative samples is that their members are

• A) chosen by random selection.
• B) chosen on the basis of central tendency.
• C) chosen on the basis of equal variability.
• D) significant members of the population.

---

Definitions:

Equilibrium Quantity

The quantity at which the amount of goods supplied is equal to the amount of goods demanded in the market.

Upward-Sloping Supply Curve

A graphical representation indicating that an increase in price results in an increase in the quantity of goods supplied.

Market Demand

The relation between the price of a good and the quantity purchased by all consumers in the market during a given period, other things constant; sum of the individual demands in the market.

Substitute Good

A product or service that can be used in place of another to satisfy similar needs or desires, often influencing consumer choices and market dynamics.