How Are Guilds as Organizations Best Described

question 54

Multiple Choice

How are guilds as organizations best described?

• A)Artisans who directed almost every aspect of the production process of certain trades
• B)Citizens trying to defend their political rights
• C)Agricultural laborers seeking to improve their wages

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Definitions:

Barbara Streisand CDs

Physical compact discs containing music recorded by the American singer, actress, and filmmaker Barbara Streisand.

Complements

Goods that are often consumed together, such that an increase in demand for one leads to an increase in demand for the other.

Substitutes

Goods or services that can replace each other in use or consumption, such that an increase in the price of one leads to an increase in demand for the other.

Marginal Revenue

Marginal revenue is the additional revenue that a firm gains from selling one more unit of a good or service.