Which of the Following Statements Is False

question 81

Multiple Choice

Which of the following statements is false?

• A)Anytime you have to decide which action to take you are facing an economic trade-off.
• B)Trade-offs do not apply when the consumers purchase a product for which there is excess supply,such as a stock clearance sale.
• C)Every individual,no matter how rich or poor,is faced with making trade-offs.
• D)Economics is a social science that studies the trade-offs we are forced to make because of scarcity.

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Definitions:

Robinson-Patman Act

A United States federal law aimed at preventing anticompetitive practices by producers, specifically prohibiting price discrimination that lessens competition.

Preventing Competition

Strategies or actions taken by companies or regulatory bodies to limit competition within a market, which can include monopolistic practices, exclusive agreements, or legal regulations.

Federal Trade Commission Act

United States federal law established in 1914 to prevent unfair competition, deceptive advertising, and monopolies, overseen by the Federal Trade Commission.

Clayton Act

A United States antitrust law enacted to prohibit certain actions that lead to anti-competitiveness, supplementing the Sherman Antitrust Act.