What Is Meant by the "Law of One Price

question 84

Multiple Choice

What is meant by the "law of one price"?

• A)Identical products should sell for the same price everywhere.
• B)A law was passed in 1913 that made it illegal to sell the same good or service to different people for different prices.
• C)This is a section of the Sherman Act that forced trusts (for example, the Standard Oil Company)to charge the same price for the same good or service in different states.
• D)Foreign companies should not be allowed to sell a product in the United States for prices different from prices these companies charge in other countries.

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Definitions:

Quantifiable

Capable of being measured or expressed as a numerical value.

Evaluation Interview

A meeting aimed at discussing an employee's job performance, objectives, and development needs based on a systematic assessment.

Developmental Purposes

Actions or strategies intended to facilitate growth, progress, or improvement in either personal or organizational contexts.

Performance Standards

Criteria established to assess how well a task or job is performed, serving as benchmarks for acceptable performance levels.