The Concept of Entropy

question 14

Multiple Choice

The concept of entropy

• A)is employed to explain how energy can be stored.
• B)is employed to explain how an exothermic reaction can become endothermic.
• C)is employed as an indicator of disorder in a system.
• D)explains why most chemical reactions are endothermic.

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Definitions:

Lateral Price Fixing

An illegal agreement between competitors at the same level of the supply chain to set the price of goods or services, rather than market forces determining prices.

Price Discrimination

A pricing strategy where a company sells the same product or service at different prices to different customers, based on factors like location, age, or purchase quantity.

Predatory Pricing

A competitive strategy where a firm sets very low prices with the intent to drive competitors out of the market or hinder their ability to compete.

Showrooming

The practice of examining merchandise in a traditional brick and mortar retail store without purchasing it, then shopping online to find a better deal on the same item.