Cultural Differences Are Some of the Reasons for the Tensions

question 57

Multiple Choice

Cultural differences are some of the reasons for the tensions between Iraq and Iran,because most Iraqis are ________,while most Iranians are ________.

• A)Arabic/Persian
• B)Arabic/Jewish
• C)Persian/Arabic
• D)Sunni/Shi'ia
• E)none of these

---

Definitions:

Second-Price Auction

An auction format in which the highest bidder wins the item, but the price paid is the second-highest bid.

English Auction

A type of auction where bidders openly bid against one another with each subsequent bid being higher than the previous bid, and the highest bidder wins.

Reserve Price

The minimum price at which a seller is willing to sell an item in an auction, below which the item will not be sold.

Expected Profits

The predicted average profit of a business activity, accounting for the various possible outcomes and their probabilities.