The University of Ontario Had Obtained Grants from the Government

question 33

Multiple Choice

The University of Ontario had obtained grants from the government to improve the facilities for students.The faculty members at the university recommended the purchase of books of some authors to be stored in the library.The faculty members are playing the role of:

• A)decider.
• B)influencer.
• C)gatekeeper.
• D)initiator.
• E)user.

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Definitions:

World Price

The price at which goods are traded internationally, determined by supply and demand in the global market.

Domestic Price

Domestic price is the price of a good or service within a country, influenced by local supply and demand conditions, taxes, and subsidies.

Exports and Imports

involve the selling of goods and services to other countries (exports) and buying goods and services from other countries (imports), crucial components of a country's economy.

Frederic Bastiat

Frederic Bastiat was a French economist and writer known for his advocacy of free markets and critique of protectionism, best remembered for his works such as "The Law" and "Economic Sophisms."