Now That We Are in the Twenty-First Century, Who Is

question 64

Multiple Choice

Now that we are in the twenty-first century, who is apparently in charge in the marketplace?

• A)big-box retailers
• B)manufacturers
• C)home-improvement retailers
• D)customers
• E)federal regulators

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Definitions:

Profit Sharing

A company policy wherein employees receive a share of the profits of the business, which serves as a motivation and reward for their performance.

Cartel Output

The total production level agreed upon by members of a cartel, aimed at maximizing their collective profits by controlling supply.

Demand Schedule

A table or graph displaying the quantity of a good or service that consumers are willing and able to purchase at various price points within a given time frame.

Collude

To agree secretly among competitors to fix prices, bids, or terms of sale in order to manipulate a market.