Weber's Term ____________ Refers to the Process by Which Traditional

question 2

Multiple Choice

Weber's term ____________ refers to the process by which traditional informal and spontaneous methods of social organization are gradually replaced by efficiently administered formal rules and procedures.

• A) rationality
• B) oligarchy
• C) transition
• D) assimilation

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Definitions:

Diamond/Water Paradox

A paradox stating that (1) the things with the greatest value in use frequently have little or no value in exchange and (2) the things with the greatest value in exchange frequently have little or no value in use.

Value in Use

The utility of a product based on its ability to fulfill the needs of the user.

Value in Exchange

The worth of a good or service in comparison to other goods or services in the context of trade or commerce.

Marginal Utility

The extra pleasure or advantage gained from using an additional unit of a product or service.