The President Is Named the Commander in Chief of the Armed

question 51

Multiple Choice

The president is named the commander in chief of the armed forces by the _____.​ 

• A) Chief of Justice 
• B) Constitution 
• C) Senate 
• D) Supreme Court judge 
• E) Department of State

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Definitions:

Price Competition

A market situation in which companies attempt to win customers by offering lower prices than their competitors.

Waste of Resources

The inefficient use of materials, labor, energy, or capital that does not maximise potential utility or value.

Monopolistically Competitive

In a monopolistically competitive market, many firms sell products that are similar but not identical, allowing for product differentiation and some degree of market power over prices.

Short Run

A period in economic analysis in which at least one input is fixed while others are variable.