The Economic Entity Most Likely to Engage in Price Gouging

question 156

Multiple Choice

The economic entity most likely to engage in price gouging is

• A) the manufacturer of the product,such as a Honda generator.
• B) a national big-box store,such as Target or Walmart.
• C) a local,regular supplier of the product.
• D) an individual or business who has a supply of the product somewhere else.
• E) a local resident who wants to get rid of his or her own product.

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Definitions:

Numerical Ability

The capability to perform mathematical operations and understand, manipulate, and solve numerical problems.

Creativity

The ability to produce original, appropriate, and valuable ideas and/or solutions to problems.

Problem-solving Ability

The capacity to find solutions for difficult or complex issues, often involving analytical or creative thinking.

Retrieval Ability

The capacity to recall or retrieve information from memory when needed.