Surveys of How Important University Students Rate Becoming "Very Well

question 30

Multiple Choice

Surveys of how important university students rate becoming "very well off financially" have found that in 1970, _____ of students ranked this as very important, compared to _____ in 2005.

• A) 10%; 55%
• B) 28%; 85%
• C) 39%; 74%
• D) 15%; 91%

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Definitions:

More Output

An economic condition or a scenario where a firm or economy increases its production of goods or services.

Monopoly Inefficiency

The loss of economic efficiency that occurs when a single firm controls the market, leading to higher prices and reduced output compared to competitive markets.

Government Intervention

involves actions taken by a government to influence or directly affect economic, social, or political outcomes in a country.

Price Discrimination

The strategy of selling the same product or service at different prices to different customer groups, often based on the willingness to pay, market segment, or purchase location.