Examlex

Solved

According to Forbes Magazine's 2010 List of the Richest People

question 114

Multiple Choice

According to Forbes magazine's 2010 list of the richest people in the world,Bill Gates (co­founder of Microsoft Corporation) was the second wealthiest with a fortune of nearly $53 billion.According to the sociologist Erik Wright's Marxian model,Bill Gates would be in the______________class.


Definitions:

Liquidated Damages

A predetermined amount of money that must be paid as compensation for failure to perform under a contract.

Resale Price

The price at which an item is sold after it has already been purchased from the original seller or manufacturer.

Contract Price

The price agreed upon by the contracting parties for the exchange of goods, services, or property as stipulated in their contract.

Punitive Nature

An aspect of legal judgments or actions intended to punish the wrongdoer, rather than simply to compensate for harm done.

Related Questions