All of the Following Are Examples of Socioeconomic Distribution of Income

question 27

Multiple Choice

All of the following are examples of socioeconomic distribution of income except how much:

• A) the top 10 percent of a population gets.
• B) Black people get relative to white people.
• C) two-parent households get relative to single-parent households.
• D) the young get relative to the old.

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Definitions:

Economists

Professionals who study how societies use scarce resources to produce valuable goods and services and distribute them among different people.

Positive Externalities

Benefits that are enjoyed by a third-party or the society at large as a result of an economic transaction, but these benefits are not reflected in the market price.

Resource Problem

The economic issue of having limited resources to satisfy unlimited wants and needs, necessitating choices and priorities in allocation.

Positive Externalities

Benefits experienced by third parties who are not directly involved in the production or consumption of a good or service.