In Economics, All the Items That People Would Consume If

question 143

Multiple Choice

In economics, all the items that people would consume if they had unlimited income are known as

• A) wants.
• B) aggregates.
• C) outputs.
• D) needs.

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Definitions:

Area

The measure of the extent of a two-dimensional surface or shape, expressed in square units.

Z

Often refers to a Z-score in statistics, representing the number of standard deviations a data point is from the mean.

Continuous Random Variables

Variables that can take on numerous values within a defined range.

Examples

Examples are specific instances or items that are representative of a general case or category, often used to illustrate a point or explain a concept.