Which of the Following Was NOT One of the Elements

question 157

Multiple Choice

Which of the following was NOT one of the elements or characteristics of apartheid?

• A) It was an official policy of racial segregation.
• B) It was practiced in the country of South Africa.
• C) Whites, coloureds (mixed-race), Indians (South Asian), and Africans (blacks) were all categories for the purpose of segregation.
• D) Blacks were crowded into the least desirable areas, forming squatter settlements called townships.
• E) Non-whites (blacks, coloureds, and Indians) were enslaved.

Understand the significance of maximizing consumer surplus and producer surplus in economic welfare.

Distinguish between economic profit, normal profit, and loss scenarios for competitive firms.

Understand the concept of optimal allocation of scarce resources in a purely competitive industry.

Describe conditions for long-run equilibrium in a purely competitive firm.