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Sherona Is Very Good at Standardized Tests and Frequently Scores

question 43

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Sherona is very good at standardized tests and frequently scores very high. She has poor work habits and often turns in her assignments late. Teachers overlook her late assignments because they view her as a "good" student. This is an example of __________.


Definitions:

Price Charged

The amount of money demanded by a seller for a product or service.

Perfectly Competitive

A market structure characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to efficient pricing and output levels.

Organic

Pertaining to or derived from living organisms, in food production referring to practices that do not use synthetic pesticides or fertilizers.

Profit

The profit achieved when the revenue generated from a business operation surpasses the expenses, costs, and taxes needed to maintain the operation.

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