Canadian Anthropologist Thomas Dunk,in a Study of Working Men in Thunder

question 13

Multiple Choice

Canadian anthropologist Thomas Dunk,in a study of working men in Thunder Bay,Ontario,shows how a group of working class friends

• A)form fraternities.
• B)belong to youth gangs.
• C)meet body piercers.
• D)define age sets.
• E)share costs and keep the group in balance and define for the group what is entailed in friendship.

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Definitions:

Excess Capacity

The situation in which a firm or economy can produce more goods than are currently being produced, due to underused resources.

Diseconomies of Scale

Increases in cost per unit when output increases, often due to inefficiencies that arise with too large an operation.

Monopolistic Competition

A market structure characterized by many firms selling differentiated products with no perfect substitutes, allowing for some degree of market power.

Product Variety

Refers to the assortment of different goods and services that a company offers to meet consumer demands.