Bill Talen,also Known as the Reverend Billy,leader of the Church

question 112

Multiple Choice

Bill Talen,also known as the Reverend Billy,leader of the Church of Stop Shopping,wants people to resist the temptation to shop.He annually leads a group of volunteers in his post- Thanksgiving Buy Nothing Parade in front of Macy's in Manhattan.Bill Talen is criticizing the American marketing system for creating _ .

• A)shoddy products
• B)too few social goods
• C)predatory competition
• D)false wants and too much materialism
• E)environmental problems

Understand the phases of the industrial revolution and their significance to economic change.

Discern the challenges and implications of healthcare costs on economic productivity.

Analyze the trends in global economic growth rates from the pre-industrial era to the present.

Understand the historical and geographical origins of the industrial revolution and its global spread.

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Definitions:

Equilibrium Price

The rate in the market at which the provision of goods aligns with the requisition of goods.

Producer Surplus

Producer surplus is the difference between the amount producers are willing to sell a good for and the higher actual price at which they sell the good.

Consumer Surplus

The difference in the total value consumers are prepared to pay for a product or service compared to their actual payments.

Spanish Producers

Are businesses or individuals in Spain engaged in the creation or manufacturing of goods and services.