Quartermaine University Has Just Formed a Board of Trustees and Invited

question 101

Multiple Choice

Quartermaine University has just formed a board of trustees and invited 25 of its wealthiest alumni to join. In this example, Quartermaine University is demonstrating

• A)contraction.
• B)cooptation.
• C)coalition.
• D)political action.
• E)voluntary action.

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Definitions:

Surplus

The situation that occurs when the quantity supplied of a good exceeds the quantity demanded at a given price.

Market For Candy

A consumer market segment dealing with the buying and selling of various types of candies.

Price

The amount of money required to purchase a product or service.

Demand Curve

A graphical representation showing how the quantity demanded of a good or service varies with its price.