According to a ______ Philosophy, Poverty Exists Because Having a Multitude

question 14

Multiple Choice

According to a ______ philosophy, poverty exists because having a multitude of poor people as workers enables higher classes to keep wages low.

• A)radical
• B)liberal
• C)conservative

---

Definitions:

English Auction

A bidding process where participants openly bid against each other, with the item being sold to the highest bidder.

Reservation Price

The maximum price that a consumer is willing to pay for a good or service.

Willingness To Pay

The maximum amount a consumer is ready to pay for a good or service, indicating the value they place on it.

English Auction

An auction format where the price increases incrementally with each new bid, and the item is sold to the highest bidder at the close of bidding.