"Class Consciousness" Refers to the Perception That a Class Structure

question 21

True/False

"Class consciousness" refers to the perception that a class structure exists.

---

Definitions:

Second-Price Auction

An auction format in which the highest bidder wins, but pays the price bid by the second-highest bidder.

Optimal Bidding Strategy

A method or plan designed to win at an auction or in a competitive context, maximizing the chance of success while minimizing costs.

True Value

The actual, inherent worth of an asset, without distortion from market factors or perceptions.

Bid-rigging

A fraudulent scheme where businesses collude to control the bidding process, often at the expense of fairness.