The Basic Premise of _________ Theory Is That the Law

question 33

Multiple Choice

The basic premise of _________ theory is that the law is used to maintain the power of a society's dominant group and control the individuals who threaten that power.

• A)disparity
• B)discrimination
• C)consensus
• D)conflict

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Definitions:

Inefficient Outcomes

Situations where resources are not allocated optimally, resulting in potential losses in economic welfare.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making someone else worse off, often achieved when marginal cost equals marginal benefit.

Government Budget

A financial statement presenting the government's projected revenue and spending for a specific fiscal period, outlining planned financial operations and priorities.

Allocative Efficiency

A state of the economy where resources are allocated in a way that maximizes the utility or satisfaction of consumers.