Army Insignias, Gang Colors, and Fraternity Jackets Are Devices Used

question 20

Multiple Choice

Army insignias, gang colors, and fraternity jackets are devices used to identify who is inside or outside a group. In view of this they are called ________.

• A) identification tags
• B) personal identity kits
• C) reference points
• D) social boundaries

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Definitions:

Input Market

The market where resources or inputs such as labor, materials, and capital are bought and sold, allowing businesses to produce goods and services.

Households

Entities consisting of one person or a group of people who share living accommodations and make joint or separate decisions in consumption and investment.

Normal Good

A Normal Good is a type of good for which demand increases when the income of the consumer increases and falls when the income decreases, assuming the price remains constant.

Factor Market

A marketplace for the services of a factor of production, such as labor, capital, and land.