What Term Describes the "Values,attitudes,traditions,habits,and General Behavioral Patterns That Develop

question 12

Multiple Choice

What term describes the "values,attitudes,traditions,habits,and general behavioral patterns that develop over time and shape the politics of a particular region"?

• A) Political culture
• B) Political socialization
• C) Political economics
• D) Political geography
• E) Political maturation

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Definitions:

Economic Profit

The excess of total revenue over the complete aggregation of both transparent and hidden costs.

Marginal Revenue

The supplementary income a company accrues from the sale of one additional unit of a product or service.

ATC

Average Total Cost, the total cost of production divided by the number of units produced, representing the average cost per unit of output.

Profit-Maximizing Rule

A principle that states a firm reaches its highest profit when its marginal cost equals its marginal revenue.