The Classification of People Based on Physical Characteristics, Especially Skin

question 50

Multiple Choice

The classification of people based on physical characteristics, especially skin color is known as

• A) race.
• B) ethnicity.
• C) gender.
• D) group designation.

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Definitions:

Illegal Price-Fixing

An unlawful agreement between competitors to set prices at a certain level, generally resulting in unfair competition and higher prices for consumers.

DuPont Cellophane Case

The antitrust case brought against DuPont in which the U.S. Supreme Court ruled (in 1956) that while DuPont had a monopoly in the narrowly defined market for cellophane, it did not monopolize the more broadly defined market for flexible packaging materials. It was thus not guilty of violating the Sherman Act.

Relevant Market

The market segment in which a company competes, defined by its products, customers, and geographic area.

Structure Versus Behavior

A distinction in competition policy and economic regulation focusing on the organization and arrangements of firms (structure) versus their actual conduct (behavior) in the market.