Dorm Rooms Usually Are Not Allocated by Markets

question 23

Multiple Choice

Dorm rooms usually are not allocated by markets. Allocating dorm rooms is:

• A) not an economic problem.
• B) an economic problem.
• C) not affected by economic forces.
• D) determined by prices.

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Definitions:

Postindustrial Society

A society economically dependent upon the production and distribution of services, information, and knowledge.

Agricultural Society

A society that relies on farming and cultivation of the land as the primary source of livelihood and economic activity.

Industrial Society

A society characterized by a reliance on mechanized labor to create goods, leading to urbanization and changes in social structures.

Achieved Status

A status attained by effort.