Should Age- or Need-Based Criteria Be Used for Entitlement to Economic

question 40

Essay

Should age- or need-based criteria be used for entitlement to economic security? Support your position.

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Definitions:

Collusion

Collusion is a non-competitive, secret, and sometimes illegal agreement between competitors to manipulate market conditions by coordinating prices, production, or marketing strategies.

Oligopoly

An economic scenario in which a few large companies control the majority of the industry, resulting in minimal competition and possibly increased prices for buyers.

Profit

The financial gain made in a transaction or operation, calculated as total revenues minus total costs.

Cartel

A group of independent market participants who collude to raise prices, limit supply or otherwise manipulate market conditions in their favor.