Which of the Following Is a Necessity to Have Pluralism

question 8

Multiple Choice

Which of the following is a necessity to have pluralism in a society?

• A) A numerically large minority group
• B) A social class stratification system
• C) Legal protection of distinct group(s)
• D) One clear minority group and one clear dominant group

Identify the impact of price changes on quantity demanded and supplied.

Analyze the effects of consumer income changes on demand for goods.

Define and differentiate between capital, labor, and land as factors of production.

Understand the concept of investment in the capital market.

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Definitions:

TC

An abbreviation for Total Cost, it quantifies the overall expense incurred in the production of goods or services, encompassing both fixed and variable costs.

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm's output expands, often due to complexities and inefficiencies at larger scales.

Long-Run Average Total Cost

The cost per unit of output incurred when all factors of production, including capital, are variable, indicating the lowest possible cost of production for each level of output when the scale of operation is changed.

Total Variable Cost

The sum of all costs that vary directly with the level of production or output, including costs for materials, labor, and energy.