A Seller's Exploitation of a Short-Term Situation in Which Buyers

question 17

Multiple Choice

A seller's exploitation of a short-term situation in which buyers have few purchase options for a much-needed product is called

• A)Price gouging
• B)Racketeering
• C)Prix fixe
• D)Worker exploitation

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Definitions:

Party Machine

A political organization in which an authoritative boss or group commands the loyalty of supporters and businesses, often using incentives for political support.

Two-Party System

A political system in which two major parties dominate voting in nearly all elections at every level of government.

Two-Party System

A political system dominated by two major parties, often leading to competition for power and influencing the political landscape of a country.

Proportional Representation

An electoral system where parties gain seats in proportion to the number of votes cast for them, as opposed to winner-take-all systems.