A Community That Ensures the Meeting of Basic Physiological Necessities

question 38

Multiple Choice

A community that ensures the meeting of basic physiological necessities to its members through locally owned businesses is meeting the function of

• A) social control.
• B) socialization.
• C) mutual support.
• D) social participation.
• E) production, distribution, and consumption.

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Definitions:

Tax Laws

The legal rules and regulations governing how individuals and entities are taxed by governmental authorities.

Loanable Funds Traded

The marketplace for borrowing and lending, where loanable funds are exchanged, often involving financial institutions, with rates influenced by supply and demand.

Interest Rate

Borrowers face a cost, expressed as a percentage of the fundamental amount, for the privilege of using lenders' assets.

Supply of Loanable Funds

The total amount of funds available for borrowing in the economy, influenced by savings, government policies, and financial institutions.