The Text's Definition of Crisis Encompasses Three Interrelated Ideas

question 45

Multiple Choice

The text's definition of crisis encompasses three interrelated ideas. Which of the following is NOT one of these?

• A) Crises necessarily involve change.
• B) A crisis is a turning point with the potential for positive effects, negative effects, or both.
• C) A crisis is a time of relative instability.
• D) Crises necessarily lead to catastrophe.

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Definitions:

Factor Market

A marketplace for the services of a factor of production (e.g., labor, capital), where firms buy resources they need to produce goods and services.

Circular Flow

An economic model depicting how money moves through an economy between producers and consumers, illustrating the continuous flow of goods and services and financial transactions.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.

Household

A person or a group of people that share their income.