In Order for the Price Mechanism to Work,we Need

question 124

Multiple Choice

In order for the price mechanism to work,we need

• A)To have the government regulate each industry.
• B)Many competing firms in each industry.
• C)To have only a few firms in each industry.
• D)None of the choices are true.

---

Definitions:

White Slave Traffic Act

Also known as the Mann Act, a United States federal law passed in 1910 aimed at preventing the transport of women across state lines for "immoral" purposes.

Immoral Purposes

Describes actions or intentions that are considered to be contrary to the moral or ethical standards of society.

1910

A year in the early 20th century marked by significant events, including revolutions, the founding of organizations, and advancements in technology and art.

Special-Interest Groups

Organizations formed to represent the concerns and aims of specific groups and interests in political and policy-making processes, often lobbying for favorable legislation and regulation.