Socioeconomic Status Is Based on Factors Like

question 24

Multiple Choice

Socioeconomic status is based on factors like:

• A) Family income
• B) Parental education
• C) Parental occupation
• D) All of the above

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Definitions:

Price Discrimination

The practice of selling the same product or service at different prices to different customers, not based on differences in costs.

Retailers

Businesses that sell goods or services directly to consumers.

Clayton Act

A U.S. antitrust law, enacted in 1914, aimed at promoting fair competition and preventing monopolies by prohibiting certain anti-competitive practices.

Federal Trade Commission (FTC)

A U.S. federal agency tasked with protecting consumers and maintaining competition by preventing anticompetitive, deceptive, and unfair business practices.