The Inescapable Economic Fact Is That

question 108

Multiple Choice

The inescapable economic fact is that

• A)there are unlimited wants and limited resources.
• B)there are unlimited resources,and we just have to decide how to allocate them.
• C)capitalists are always exploiting the workers.
• D)unions are always exploiting firms.
• E)capitalists and unions cannot work together.

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Definitions:

Price Discriminate

The practice of selling the same product or service at different prices to different customers, often based on their willingness to pay.

Hardcover Books

Books characterized by rigid covers and spine, typically designed for durability and long-term use.

Profits

The financial gain made in a transaction or operation, calculated as the difference between revenue and expenses.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on factors like willingness to pay, market segment, or purchase volume.