Noneconomic Features of a Guild Include

question 24

Multiple Choice

Noneconomic features of a guild include:

• A) The social ties that result from guild membership
• B) The provision of support for members in difficulties
• C) The maintenance of high standards of craftsmanship
• D) New skills acquired from other guild members
• E) All of the above

Examine the evolution of American civil liberties and their impact on the political system.

Assess the role of economic policies and practices in shaping the American economy of the early 20th century.

Identify the factors contributing to social divisions and cultural conflicts in 1920s America.

Understand the significance of technological and social changes on American society in the 1920s.

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Definitions:

Prestige Pricing

Psychological pricing strategy used with goods whose quality is difficult to determine by inspection or for products about which consumers have little solid information.

Price Skimming

Setting the price of a new product higher than expected to recover development costs.

Penetration Pricing

Setting the price of a new product lower than expected to gain fast market share.

Development Costs

Development costs are expenses associated with the creation and design of new products or services, including research and development.