Which of the Following Statements Is False

question 153

Multiple Choice

Which of the following statements is false?

• A)Critics feel that wage and price controls interfere with the price mechanism.
• B)Sweden has one of the world's most equal distributions of income,but also has a relatively low standard of living.
• C)In the former Soviet Union,most of the crops were produced on collective farms.
• D)The price system is based on supply and demanD.

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Definitions:

Oral Modification

An agreement to change the terms of a contract using spoken words rather than written documentation.

Unconscionable

A term describing a contract or practice that is unjust or extremely one-sided in favor of the party who has the superior bargaining power.

Definition

A precise explanation of the meaning of a word or phrase, often distinguishing it from similar concepts.

Merchant

A person or company involved in wholesale trade, especially one dealing with foreign countries or supplying goods to a particular trade.