t 2 (chapter 3)\n< 5 of 10 >\nwhat is a relative price?\na relative price is \n○ a. always less than a money…

t 2 (chapter 3)\n< 5 of 10 >\nwhat is a relative price?\na relative price is \n○ a. always less than a money price\n○ b. the price that you pay when you buy something from a family member\n○ c. the ratio of one money price to another\n○ d. a price expressed in terms of money

t 2 (chapter 3)\n< 5 of 10 >\nwhat is a relative price?\na relative price is \n○ a. always less than a money price\n○ b. the price that you pay when you buy something from a family member\n○ c. the ratio of one money price to another\n○ d. a price expressed in terms of money

Answer

Brief Explanations:

In economics, a relative price is defined as the ratio of one money - price to another. It shows the price of a good or service in terms of another good or service. Option A is incorrect as there is no such rule that relative price is always less than a money price. Option B is a wrong and non - economic definition. Option D describes a money price, not a relative price.

Answer:

C. the ratio of one money price to another