A Concentration Ratio Gives

question 296

Multiple Choice

A concentration ratio gives

• A) the average size of the firms in an industry.
• B) the total sales of four or eight of the mid-sized firms in the industry.
• C) the percentage of all sales contributed by the four or eight largest firms in the industry.
• D) the sales of the four largest firms in the industry divided by the sales of the eight largest firms in the industry.

---

Definitions:

Karl Marx

A philosopher, economist, and revolutionary socialist, Marx developed the theory of Marxism, focusing on the struggles between the proletariat and the bourgeoisie.

Class

A system of categorizing people based on their economic position, often determined by factors such as wealth, occupation, and social status.

Capitalism

An economic system based on the private ownership of the means of production and the creation of goods or services for profit.

Life Chances

A social science concept that refers to the opportunities each individual has to improve their quality of life, often influenced by social and economic factors.