In the Late 1940s Young Men Who Had Served in the Citizen

question 57

Multiple Choice

In the late 1940s young men who had served in the citizen armies of Canada and the United States

• A)formed clubs of motorcycle riders.
• B)were determined solely by education.
• C)were usually measured in terms of income level.
• D)were closely correlated with his/her religion.
• E)were determined mainly by ethnicity.

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and no single firm having market control.

Market Structure

The organizational and other characteristics of a market, influencing the level of competition and pricing within the market.

Oligopoly

A market structure in which a few firms sell either a standardized or differentiated product, into which entry is difficult, in which the firm has limited control over product price because of mutual interdependence (except when there is collusion among firms), and in which there is typically nonprice competition.

Innovate

The act of introducing new ideas, devices, or methods to improve productivity, efficiency, or creating new products or services.