According to George Ritzer,why Is Overspending a Public Issue

question 122

Multiple Choice

According to George Ritzer,why is overspending a public issue?

• A) because people may accumulate credit cards and spend more than they can
• Afford
• B) because people's high level of debt contributes to bankruptcy,which can destabilize the economy
• C) because a lack of savings can inhibit future economic growth
• D) because the high level of debt contributes to the instability of the banking industry

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Definitions:

Descriptive Economics

The branch of economics focused on describing the components of the economy and how they function, without making judgments about them.

Institutional Economics

A branch of economics focusing on the role of institutions in shaping economic behavior.

Understand Society

The comprehensive grasp of how social structures, relationships, and behaviors function within a community or population.

Efficient Market

A market in which prices fully reflect all available information, making it impossible to consistently achieve higher-than-average returns.