The Law of One Price Is

question 168

Multiple Choice

The law of one price is

• A) the principle that to be competitive, a company must offer its product at only one price.
• B) a principle suggested by Canadian economists that means that all products in a given economy should be sold for the same price.
• C) that the supply and demand of a product must not alter its price.
• D) a principle that identical products should sell for the same price in all countries.
• E) if a retailer puts an item on sale, all other retailers must match their price for consumers.

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Definitions:

Administering

The act of giving or applying something, such as a medication or treatment, to a person or group.

FDA

The Food and Drug Administration, a federal agency responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter medications, vaccines, biopharmaceuticals, medical devices, and veterinary products.

Indications

Symptoms or conditions that suggest the need for a specific treatment, medication, or procedure.