Which of the Following Statements Are False

question 62

Multiple Choice

Which of the following statements are false?

• A) A probability distribution is discrete if it has a finite number of possible values.
• B) A probability distribution is continuous if its possible values are essentially some continuum.
• C) An example of a discrete probability distribution is the amount of rain that falls during the month of June in Michigan.
• D) None of these options

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Definitions:

Competitive Market

A market structure where multiple firms sell products that are similar or identical, and no single firm can influence the market price on its own.

Market Price

The rate at which a service or asset can presently be bought or sold within a specific market.

Market Economy

A system where the economy and the prices of goods and services are determined entirely by the collective actions of a country's individuals and companies.

Scarce Resources

Resources that are limited in supply and available in less quantity than the demand in an economy, necessitating allocation choices.