Scarce Resources Give Rise to the Concept of

question 54

Multiple Choice

Scarce resources give rise to the concept of

• A) efficient markets.
• B) opportunity costs.
• C) laissez-faire.
• D) positive economics.

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Definitions:

Disapproval Ratings

A statistical measure showing the percentage of respondents in a survey who do not support a particular person, policy, proposal, or performance.

P-value

A statistical measure that indicates the probability of obtaining the observed results, or more extreme, if the null hypothesis were true.

Pollsters

Individuals or organizations that conduct polls or surveys to collect information on public opinion, preferences, or behaviors.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, that can be tested through experiments and observations.