The Idea That Families Can Best Be Understood by Examining

question 3

Multiple Choice

The idea that families can best be understood by examining how they interact with,influence,and are influenced by other social institutions,and can't merely be separated out as "havens" from the rest of society falls into which theme?

• A)Social inequality has a powerful influence.
• B)Families are both a public social institution and a private personal relationship.
• C)Families reflect historical,cultural,political,and social factors.
• D)Understanding families in the United States requires a comparative perspective.

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Definitions:

Economic Profit

The difference between total revenue and both explicit and implicit costs; the profit that exceeds the opportunity cost of resources.

Perfectly Competitive Markets

Markets in which no individual buyer or seller has any significant impact on prices and products are perfect substitutes.

Minimum ATC

The lowest point on the Average Total Cost curve, indicating the most efficient scale of production for a firm in the long run.

Economic Profit

Profits earned by a firm or an individual after subtracting both the explicit costs and opportunity costs of resources employed.