According to the Text, the Functions of the Family May

question 33

Multiple Choice

According to the text, the functions of the family may include all of the following except:

• A) assignment of social roles and status.
• B) socialization of children.
• C) acting as a unit of economic cooperation and consumption.
• D) caring for extended family.

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Definitions:

Utilities Possibilities Frontier

A graphical representation showing the maximum amount of two or more goods or services that can be produced given a set of resources, highlighting the trade-offs and opportunity costs.

Equity

Fairness or justice in the way people are treated or how resources are distributed.

Efficiency

The optimal use of resources to achieve the desired outcome with minimal waste or expense, often associated with productivity and economic contexts.

Welfare Economics

The branch of economics that focuses on the optimal allocation of resources and goods and how the allocation affects social welfare.