The Trump Family Is a Part of the Business Class

question 25

Multiple Choice

The Trump family is a part of the business class in the United States. They have a great deal of money, but the members of the family have to work hard to maintain their place. Because they represent "new money," Weber would say that the Trumps are:

• A) Rentiers
• B) Entrepreneurs
• C) Petite Bourgeoisie
• D) Bureaucrats

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Definitions:

Fair Return

A reasonable profit level that a utility or service provider is allowed to earn, taking into account the need to provide goods or services at fair prices.

Economic Profit

The contrast between total financial gain and overall financial obligations, including both explicit and implicit expenditures.

Marginal Cost

The financial burden of producing a further unit of a product or service.

Average Cost Pricing

A pricing strategy where the price is set based on the average cost per unit produced, including fixed and variable costs.