Table 18-12 Table 18-12 Shows Income Distribution Data for Two

question 267

Multiple Choice

Table 18-12
Table 18-12 shows income distribution data for two countries. Use this data to answer the following questions.
-In a market economy, the high salaries of some star baseball players such as Zach Greinke, are determined by

• A) team owners, based on the total number of star athletes they plan to hire.
• B) advertising companies, based on what they are willing to pay to advertise their products at baseball games.
• C) the interaction of the demand for star athletes and the supply of star athletes.
• D) consumers, based on their willingness to watch baseball games.

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Definitions:

Community Attitudes

The prevalent beliefs, values, and opinions held by a community or society towards particular issues or subjects.

Zoning Restrictions

Regulations and ordinances that determine how property in specific geographic zones can be used.

Tangible Costs

Costs associated with an identifiable physical item or service, such as raw materials, labor, and manufacturing expenses.

Climatic Conditions

The weather conditions prevailing in an area in general or over a long period, affecting living conditions, agriculture, and industry.