Two Important Shifts Have Occurred in the World of Work

question 1

Multiple Choice

Two important shifts have occurred in the world of work. They are that _____ women are working in occupations traditionally reserved for men, and domestic and caregiving activities have _____ respect.

• A) more; gained new
• B) fewer; gained new
• C) more; lost
• D) fewer; lost

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Definitions:

Monopoly

A single-seller market scenario, in which the product offered is unique and lacks any near equivalents in the marketplace.

Barriers To Entry

Barriers to entry are obstacles that make it difficult for new competitors to enter a market, which can include high startup costs, strict regulations, or strong brand loyalty among consumers.

Single-price Monopolist

Describes a monopoly that sells its product or service at a single price to all customers, without price discrimination.

Individual Willingness

Refers to the level of price or effort a person is ready to offer to acquire a specific good or service.