What is one economic principle?

Advanced Placement (AP)

2 answers:

miss Akunina [59]3 years ago

4 0

Resources are limited.

muminat3 years ago

3 0

The correct answer is C. Resources are limited

Explanation:

The economy is the field that deals with the use of natural resources, the production of goods, trade, consumption, among other aspects in societies. All of these are regulated by principles that describe the relationship between different elements, basic principles include cost-benefit, supply/demand, and scarcity or limitation of resources as this influences whether needs are fulfilled and the production of certain goods, for example, limited availability of cotton would decrease the production of cloth. According to this, one economic principle is that resources are limited.

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Probabilities are used to determine the chances of hitting the bullseye

<h3>How to plot the graph</h3>

The sample space is given as:

Sample space = {NN, NB, BN, BB}

From the sample space above, we have the following theoretical values

P(N = 2) = 0.25

P(N = 1) = 0.50

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Next, we plot the graph of the theoretical probability distribution

Where:

The x-axis represents the number of hits
The y-axis represents the probability

See attachment for the graph