Many Children of Single Parents Have a Smaller Extended Family

question 10

Multiple Choice

Many children of single parents have a smaller extended family network on which to rely. This causes a reduction in

• A) social capital.
• B) emotional intelligence.
• C) language skill.
• D) wealth.

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of inputs, indicating that resources are likely yielding the highest value use.

Differentiated Products

Goods or services that are distinguished from each other based on quality, features, or branding, making them non-identical from a consumer's perspective.

Elastic Demand

A situation where the demand for a product is sensitive to price changes, meaning small price changes lead to large changes in quantity demanded.

Barriers To Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business, often maintaining high levels of profit for those already established.