Answer:
C) Economics has its own language and its own way of thinking, but few other fields of study do.
Explanation:
Economics is a social science that studies the exchanges and uses of scarce resources. Every science has its own terms and language, and way of thinking.
For example resources in economics refers to the factors of production (land, labor, capital and entrepreneurship), while resources in geology means the amount of mineral, energy and non-metallic resources that exist in natural reserves or deposits. For economists all resources are scarce and their use must be optimized, while geologists try to determine the amount of resources in a deposit.
Answer:
Being on time in business situations generally means being about 5 minutes early
Explanation:
5 minutes late is acceptable with a brief apology. Ten to fifteen minutes late requires a phone call to warn of the delay and to apologize.
Answer: The two events A "do homework regularly" and B "pass the course" are not mutually exclusive events since P(A and B) is 0.57, which is greater than 0.
As per the question,
Event A is : Do homework regularly
Event B is : Pass the course.
P(A) = 0.60
P(B) = 0.85
In probability the Probability of occurrence of events A or B is defined by two conditions:
If events A and B are mutually exclusive:
--- (1)
If events A and B are not mutually exclusive,
---- (2)
In other words, equations 1 and 2 will be equal only when P(A and B) =0.
Since 95% of the people who do homework regularly pass the course, we can derive the P(A and B) as
Since P(A and B) is greater than 0, the two events are not mutually exclusive.