​Exhibit 4-11 Refer to Exhibit 4-11

question 110

Multiple Choice

​Exhibit 4-11 Refer to Exhibit 4-11.  Suppose that the government imposes a price ceiling in the market for good ABC at a price of $4.  How many fewer units would be exchanged at the price ceiling than would be exchanged if the market for good ABC were a free market?

• A)20
• B)40
• C)60
• D)80
• E)100

---

Definitions:

Labour Market Segmentation

The division of the labor market into distinct sub-markets or segments, each with its own set of employment practices, job characteristics, and worker demographics, leading to unequal job opportunities and wages.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, marked by significant events, battles, and shifts in power.

Fordism

An industrial production model based on mass production and consumption, characterized by standardized products and assembly-line mechanisms.

Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity.