A Price Maker Is

question 81

Multiple Choice

A price maker is

• A)a person who actively seeks out the best price for a product that he or she wishes to buy.
• B)a firm that has some control over the price of the product it sells.
• C)a firm that is able to sell any quantity at the highest possible price.
• D)a consumer who participates in an auction where she announces her willingness to pay for a product.

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Definitions:

Hydrophobic

Hydrophobic refers to substances that repel water, often characterized by nonpolarity and insolubility in water.

Soap

Salt of fatty acids that are primarily used for cleaning and lubrication, formed by the reaction between an alkali and a fat or oil.

Detergent

A chemical compound used to remove dirt, including surfactants that can break up and remove grease and oil.

Terpenes

A large and diverse class of organic compounds produced by a variety of plants, especially conifers, which are often strong smelling and used in natural roles as protection against herbivores, insects, and pathogens, as well as in perfumes, spices, and pharmaceuticals.