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The structural functionalist view of inequality emphasizes:
A) consensus, class action, and the pluralism of power in social structures
B) consensus, individual action, and the pluralism of power in social structures
C) centralization of credit, centralization of communications, and centralization of transport
D) progressive taxes, limits on inheritance, and the combination of agriculture with manufacturing
E) classless society, progressive taxes, and confiscation of property of all emigrants
Comparative Advantage
The ability of a country or firm to produce a particular good or service more efficiently than other goods or services, relative to other countries or firms.
Opportunity Cost
The sacrifice of potential advantages from different alternatives when opting for a particular one.
Production Cost
The total cost incurred by a firm in producing a specific quantity of a good or service, including both fixed and variable costs.
Comparative Advantage
The ability of an entity to produce a good or service at a lower opportunity cost than its trade partners, leading to potential gains from trade.
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