Quantitative Measures Can Be

question 36

Multiple Choice

Quantitative measures can be

• A)discrete data
• B)continuous data
• C)both a and b

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Definitions:

Quantity Demanded

Represents the total amount of a good or service that consumers are willing and able to purchase at a given price point, within a specific period.

Market Equilibrium

A situation where the quantity of goods supplied equals the quantity of goods demanded, leading to price stability.

Price Cheeseburger

The cost that a consumer pays to purchase a cheeseburger from a seller.

Excess Supply

A situation in a market where the quantity of a good or service supplied is greater than the quantity demanded at the current price.