The Theory of Social Darwinism Argued That

question 79

Multiple Choice

The theory of Social Darwinism argued that:

• A) public assistance should be available for the poor.
• B) giant corporations were inherently evil.
• C) the theory of evolution applied to humans, thus explaining why some were rich and some were poor.
• D) the poor were in no way responsible for their poverty.
• E) excessive personal wealth was a sign of weakness.

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Definitions:

Marginal Cost of Production

The cost of producing an additional unit of a good, taking into account both variable and fixed costs.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with elasticity greater than 1 indicating a high responsiveness.

Marginal Cost

The increase in cost resulting from the production of one additional unit of output.

Advertising Elasticity of Demand

Advertising elasticity of demand quantifies the change in demand for a product as a result of a change in the amount of advertising for that product.