When Greenlawn Inc

question 29

Multiple Choice

When Greenlawn Inc. finds itself losing contracts because Lo-Price Lawn Co. charges less money, Greenlawn responds by lowering its bids. This reaction demonstrates ______.

• A) the right to private property
• B) the "invisible hand" of competition
• C) collusion
• D) social responsibility

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Definitions:

Consumption

The use of goods and services by households or individuals.

Disposable Income

Resources earmarked for household financial activities in saving and spending following income tax calculations.

Saving

The segment of one's income that is not consumed but saved for future investments or use.

Consumption

The act of using goods and services for personal needs or to satisfy consumer demands.