The Largest Component of Spending in GDP Is

question 52

Multiple Choice

The largest component of spending in GDP is

• A)household spending.
• B)investment spending.
• C)government spending.
• D)net export spending.
• E)wages.

Comprehend the concepts and implications of monopoly, oligopoly, and imperfect competition in market structures.

Identify and analyze the strategies used by firms in oligopolistic markets, including collusion, nonprice competition, and price leadership.

Recognize the role of government policy in preventing anti-competitive behavior and maintaining competitive markets.

Examine the dynamics of price wars and their impact on firms and consumers within an industry.

---

Definitions:

Continuous Improvement

An ongoing effort to improve products, services, or processes by making incremental improvements over time or significant improvements all at once.

Respect for People

The fundamental consideration and ethical treatment of individuals, recognizing their rights, diversity, and dignity.

Customer Service

The assistance and advise provided by a company to those people who buy or use its products or services.

Ethical Behavior

The practice of acting in ways that are morally right and beneficial to society, following principles of integrity and fairness.