When Quality Cannot Be Easily Judged in Advance, What Provides

question 205

Multiple Choice

When quality cannot be easily judged in advance, what provides consumers with information about the quality of a product?

• A)a brand name
• B)a tie-in
• C)the quantity available for sale
• D)the amount of deadweight loss

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Definitions:

John Maynard Keynes

A British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, usually measured by GDP.

Private Sector

The part of the economy that is owned and operated by individuals and private companies, as opposed to being controlled by the government.

The Global Sullivan Principles

A set of ethical guidelines designed to promote corporate social responsibility, originally focused on human rights and equality in the workplace.