Examlex
In long-run equilibrium for a perfectly competitive industry, firms earn ________ economic profits and produce ________.
Income
The money received, usually on a regular basis, for work or through investments.
Caste System
An almost pure ascription-based stratification system in which occupation and marriage partners are assigned on the basis of caste membership.
Functional Theory
A theoretical perspective that analyzes society in terms of the functions performed by its different components or institutions.
Stratification
The hierarchical arrangement or classification of society based on various factors such as wealth, race, education, or power.
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