Research Suggests That the Level of Functional Illiteracy in the United

question 30

Multiple Choice

Research suggests that the level of functional illiteracy in the United States is about what share of adults?

• A)about 14 percent
• B)about 34 percent
• C)about 54 percent
• D)about 74 percent

---

Definitions:

Competitive Price-searcher

A market participant who sets prices through active search and strategy, often in markets with some degree of product differentiation.

Product Diversity

The variation of products and services offered in a market to meet different customer needs and preferences.

Firms Exit

This occurs when businesses cease operations and leave a market, typically due to factors like unprofitability, competitive pressures, or changing market conditions.

Competitive Price-searcher

This refers to a market situation where companies set their prices based on competition and market conditions, aiming to attract customers by offering better deals than their rivals.