One of the Ten Principles of Economics in Chapter 1

question 133

Multiple Choice

One of the Ten Principles of Economics in Chapter 1 is that people face tradeoffs.The growth that arises from capital accumulation is not a free lunch.It requires that society

• A)conserve resources for future generations.
• B)sacrifice consumption goods and services now in order to enjoy more consumption in the future.
• C)recycle resources so that future generations can produce goods and services with the accumulated capital.
• D)None of the above is correct.

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Definitions:

Resigned Attitude

A psychological state where an individual accepts a situation or condition as inevitable, often with a sense of powerlessness.

Criticisms

The expression of disapproval based on perceived faults or mistakes, or the analysis and judgment of the merits and faults of a literary or artistic work.

Cultural Capital

The non-financial social assets that promote social mobility beyond economic means, including education, intellect, style of speech, and appearance.

Microsociology

The level of analysis that studies face-to-face and small-group interactions in order to understand how they affect the larger patterns and structures of society.