Social Ferment, a Growing and Increasingly Well-Educated and Affluent Middle

question 33

Multiple Choice

Social ferment, a growing and increasingly well-educated and affluent middle class, and technological innovations have contributed to ______.

• A) a decrease in interest groups because it is easier for people to work on their own
• B) the rapid proliferation of interest groups since the 1960s
• C) the replacement of large interest groups with smaller and more focused groups
• D) replacing traditional lobbying activities with more grassroots activism

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Definitions:

Inputs

Resources such as labor, materials, and capital that are used in the production process to create goods or provide services.

Substitutability

The degree to which one product can be replaced by another in the eyes of the consumer.

Derived Demand

The demand for a factor of production or input resulting from the demand for the output that input produces.

Profit-maximizing Level

The output level at which a firm achieves the highest possible profit, determined where marginal cost equals marginal revenue.