Multiple Choice
In a command economy, which group of people ultimately determines the products that are produced?
0. Basic Principles of Economics
Introduction to Economics
Multiple Choice
In the context of economics, what is an organized collection of data called?
A
A hypothesis
B
A database
C
A market
D
A budget
Verified step by step guidance1
Understand the question is asking for the term used in economics to describe an organized collection of data.
Recall that a hypothesis is a proposed explanation or prediction, not a collection of data.
Recognize that a market refers to a system or place where buyers and sellers interact, not a data collection.
Know that a budget is a financial plan outlining income and expenses, not a data repository.
Identify that a database is an organized collection of data, making it the correct term in this context.
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