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Microeconomics AS WJEC questions and answers with complete top solutions What are the four factors of production? - Land - Labour - Capital - Entrepreneurship What is the 'basic economic problem'? - Finite resources, infinite wants What is an opportunity cost? - The benefit forgone of the next best alternative What is meant by free goods and economic goods? - Free goods are those of infinite supply (no opportunity cost) - Economic goods are those in finite supply ...

CFA Level 1 Exam 58 Questions with Answers 2023 What are the 4 types of measurement scales? - CORRECT ANSWER 1. Nominal Scales 2. Ordinal Scales (Assigned to a category) 3. Interval Scales (Relative ranking) 4. Ratio Scales (Equal differences between scale values) NOIR When do we use geometric and arithmetic means to analyze investment returns? - CORRECT ANSWER Arithmetic Mean: To estimate next year's return Geometric Mean: Measure of past performance What are the 3 different ty...

CFA LEVEL 1 QUESTIONS AND ANSWERS What are the 4 types of measurement scales? - CORRECT ANSWER-1. Nominal Scales 2. Ordinal Scales (Assigned to a category) 3. Interval Scales (Relative ranking) 4. Ratio Scales (Equal differences between scale values) NOIR When do we use geometric and arithmetic means to analyze investment returns? - CORRECT ANSWER-Arithmetic Mean: To estimate next year's return Geometric Mean: Measure of past performance What are the 3 different types of probabilit...

CFA LEVEL 1 QUESTIONS AND ANSWERS What are the 4 types of measurement scales? - CORRECT ANSWER-1. Nominal Scales 2. Ordinal Scales (Assigned to a category) 3. Interval Scales (Relative ranking) 4. Ratio Scales (Equal differences between scale values) NOIR When do we use geometric and arithmetic means to analyze investment returns? - CORRECT ANSWER-Arithmetic Mean: To estimate next year's return Geometric Mean: Measure of past performance What are the 3 different types of probabilit...

CFA LEVEL 1 QUESTIONS AND ANSWERS What are the 4 types of measurement scales? - CORRECT ANSWER-1. Nominal Scales 2. Ordinal Scales (Assigned to a category) 3. Interval Scales (Relative ranking) 4. Ratio Scales (Equal differences between scale values) NOIR When do we use geometric and arithmetic means to analyze investment returns? - CORRECT ANSWER-Arithmetic Mean: To estimate next year's return Geometric Mean: Measure of past performance What are the 3 different types of probabilit...

What are the 4 types of measurement scales? - Answer- 1. Nominal Scales 2. Ordinal Scales (Assigned to a category) 3. Interval Scales (Relative ranking) 4. Ratio Scales (Equal differences between scale values) NOIR When do we use geometric and arithmetic means to analyze investment returns? - Answer- Arithmetic Mean: To estimate next year's return Geometric Mean: Measure of past performance What are the 3 different types of probabilities? - Answer- 1. Empirical Probability (Past data...

A-LEVEL SOCIOLOGY 7192/2 Paper 2 Topics in Sociology Mark scheme June 2021 Version: 1.0 Final Mark Scheme *216a7192/2/MS* MARK SCHEME – A LEVEL SOCIOLOGY – 7192/2 – JUNE 2021 Copyright information AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material ...

Sophia: Microeconomics - Unit 1 Questions and Answers 100% Pass C1: Microeconomics studies the behavior of__________. An economy in its entirety C1: Which of the following is a characteristic of a rational consumer? Rational consumers analyze costs and benefits when making decisions. C1: Economists assume that all rational consumers will allocate their resources in order to _________. Maximize their utility. C1: Sarah is deciding between two different pairs of running shoes: The Minimalist 7,...

Sophia: Microeconomics - Final Milestone Questions and Answers Already Passed Which of the following describes the visual representation of the steps that form a process? It plays an important role in efficiency evaluation Which of the following is an intermediate good? Flour used to bake bread in a bakery When a firm uses five machines, it can produce 600 units daily. A sixth machine allows the firm to product 880 units. Which of the following is true in regard to production? The marginal pr...

ECS4862 - Advanced Microeconomics_Final_Milestone. Which of the following is true about the field of economics? Economics as a field of study was introduced during the Industrial Revolution and has not changed over time Economics can correctly predict when a recession is coming and how long it will last Economics is commonly broken into Labor Economics and Consumer Economics Economics is a social science that intersects with other fields of study CONCEPT What is Economics? 2 A real est...