A(n)______________family Is a Family Structure in Which Authority Is Held

question 109

Multiple Choice

A(n) ______________family is a family structure in which authority is held by the eldest male (usually the father) .

• A)patriarchal
• B)matriarchal
• C)egalitarian
• D)bilateral

Appreciate Adam Smith's theory on the dynamic process of competition.

Analyze the effects of pricing decisions by firms in competitive markets.

Understand the trends and factors influencing the female/male earnings ratio over time.

Recognize the impact of employment discrimination on wages and profits.

---

Definitions:

Reselling

The act of selling a product or service again, possibly after acquiring, refurbishing, or repackaging it.

Perfect Price Discrimination

A situation where a seller charges the maximum possible price for each unit consumed that each consumer is willing to pay, thus capturing the entire consumer surplus.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Market Price

The current price at which an asset or service can be bought or sold.