The Practice of Having More Minorities or Women in a Job

question 31

Multiple Choice

The practice of having more minorities or women in a job category than would reasonably be expected when compared to their presence in the relevant labor market is referred to as:

• A) occupational parity.
• B) underutilization.
• C) systemic discrimination.
• D) concentration.

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Definitions:

Oligopoly

A market structure characterized by a small number of firms which dominate the market, leading to limited competition and often high prices.

Four-firm Concentration Ratio

A measure that expresses the total market share held by the four largest firms within an industry.

Herfindahl Index

A calculation of how concentrated a market is, achieved by adding together the market share squares of every firm within that industry.

Market Power

The ability of a company or group of companies to manipulate prices or market conditions in their favor, often due to a lack of significant competition.