Which of the Following Statements Is Vague

question 283

Multiple Choice

Which of the following statements is vague?

• A) The convicted prostitutes appealed to the governor.
• B) Terry bought a new widescreen TV.
• C) Sporting events are broadcast on satellite radio.
• D) All of the paintings in this gallery are expensive.
• E) The most venomous snake is native to Australia.

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Definitions:

Barriers to Entry

Factors that prevent or impede the ability of a new competitor to enter an industry and compete with existing firms.

Price Differences

Variations in the cost of goods or services, often arising from factors like geographical location, demand, or manufacturing costs.

Market Demand

The total demand for a product or service within a market, summing up the individual demands of all potential buyers.

Purely Competitive Industry

An industry characterized by many buyers and sellers, free entry and exit, and a product that is homogeneous, leading to the establishments of a market price for all participants.