Without Competition, There Is a Tendency for a Government-Run or Regulated

question 45

Multiple Choice

Without competition, there is a tendency for a government-run or regulated monopoly to:

• A) keep prices constant.
• B) become inefficient by passing higher costs on to consumers.
• C) find ways to decrease costs so as to increase profits.
• D) become a natural monopoly.

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Definitions:

National Origin

Refers to the country or geographic region where an individual was born or where their ancestors came from, often considered in anti-discrimination policies.

Essential Job Functions

The fundamental duties and responsibilities that are core to a particular job, which must be performed by the employee holding that position.

Bona Fide Seniority System

A legally recognized system within a workplace that rewards employees based on length of service, often affecting pay, benefits, and promotions.

Job Relatedness

The degree to which tests, selection procedures, and qualifications are relevant and appropriate for a particular job or role, ensuring that hiring practices are fair and valid.