What Is a Sweatshop

question 107

Multiple Choice

What is a sweatshop?

• A) a workplace whose workforce is composed primarily of white people in the service sector, whose jobs make them sweat
• B) a workplace that manufactures sporting goods
• C) a workplace that pays low wages and is located within the developed world
• D) a workplace that purposely transcends national borders
• E) a workplace with poor working conditions, below-standard wages, and long hours

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Definitions:

MP

Marginal Productivity (MP) refers to the additional output resulting from the use of one more unit of a production factor, keeping other inputs constant.

Imperfect Competition

All market structures except pure competition; includes monopoly, monopolistic competition, and oligopoly.

Elasticity of Demand

This indicates the responsiveness of the quantity demanded of a good to a change in its price; it's another way to describe how variation in price affects consumer demand.

Supply of Computers

The total quantity of computers that producers are willing and able to sell at a given price level.