Which of the Following Statements Is FALSE

question 49

Multiple Choice

Which of the following statements is FALSE?

• A)20% of elderly households receive Social Security as their only source of income
• B)Approximately 90% of elderly households receive Social Security benefits
• C)Just under 30% of elderly households receive private pension benefits
• D)For nearly two thirds of elderly households,Social Security represents more than 50% of total income
• E)None of the abovE.All are true

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Definitions:

Too Many Rivals

A market situation where there are too many competitors, often leading to reduced prices and profit margins.

Patent Protection

Legal rights granted to inventors to exclusively produce, use, or sell their invention for a certain period of time.

Market Approval

The official authorization for a product to be sold in a specific market, often referring to regulatory approval for pharmaceuticals or medical devices.

Substitute Products

Goods or services that serve as alternatives to others, offering consumers options when making purchase decisions.