Because There Are Still Several Industrial and Consumer Markets in Which

question 73

True/False

Because there are still several industrial and consumer markets in which only domestic firms compete, many firms do not have to be able to compete internationally.

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Definitions:

Discrimination Coefficient

A measure in economics and social sciences to quantify the degree of discrimination or bias shown towards or against a particular group or individual.

Wage Differential

The difference between the wage received by one worker or group of workers and that received by another worker or group of workers.

Taxes

Mandatory financial charges or levies imposed by a government on individuals or organizations to fund public expenditures.

Transfers

Movements of resources, goods, or funds from one place, person, or entity to another, often without receiving something in return.