An Ascribed Status Is a Social Position

question 75

Multiple Choice

An ascribed status is a social position

• A)attained by a person largely through his or her own effort.
• B)assigned to a person without regard to the person's unique characteristics or talents.
• C)based solely on income and wealth.
• D)based solely on lifestyle.

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Definitions:

Cartel

An agreement among competing firms to control prices or production in a particular market, often with the goal of monopolizing it.

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service. It's a measure of the cost of producing one more unit of a good.

Fixed Cost

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance expenses.

Profit-Maximizing

The process or strategy used by businesses to achieve the highest possible profit from their operations, often by optimizing production and pricing.