Profit-Maximizing, Competitive Firms Will Not Discriminate in the Hiring of Workers

question 5

True/False

Profit-maximizing, competitive firms will not discriminate in the hiring of workers unless consumers exercise a preference for discrimination in product markets or governments mandate discrimination.

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Definitions:

Net Markdowns

The reduction in the original selling price of merchandise minus any markdown cancellations.

FOB Shipping Point

A shipping term indicating that the buyer assumes ownership and responsibility for goods at the moment they are shipped, with transportation costs borne by the buyer.

Net Income

The total earnings or profit of a company after all expenses have been deducted from revenues.

Physical Inventory

The process of counting and verifying the physical existence of tangible goods and assets held by a business for resale or production purposes.