The Law of One Price States That

question 34

Multiple Choice

The law of one price states that

• A)most countries require that all entering goods have the same price.
• B)most countries require that all exported goods have the same price.
• C)identical goods should have the same price anywhere in the world.
• D)most countries require that the price of a good not be changed once it is already in a store and available for sale.

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Definitions:

Specialty Merchandise

Products that are distinguished by their unique characteristics, typically catering to specific interests or niche markets.

Wholesaler

An intermediary entity in the distribution channel that buys goods in large quantities from producers and sells them in smaller quantities to retailers or other businesses.

Performs

Refers to the actions or tasks completed by an individual, device, or system, typically measured against a standard or expectation.

Full-Line Wholesalers

Wholesalers who offer a wide range of products from many different manufacturers, providing retailers with varied merchandise under one roof.