An Economy Is Judged Efficient If

question 47

Multiple Choice

An economy is judged efficient if

• A)it is good at producing what people want.
• B)it produces things that people may not want but in the least wasteful way.
• C)produces whatever people want in a way that may not be the least wasteful.
• D)it is a free-market economy and not a command market.

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Definitions:

Stratification Systems

Refers to the hierarchical arrangement of individuals in a society based on socioeconomic factors like wealth, race, education, and power.

Marxist Perspective

A lens within sociology and political economics that focuses on the conflicts and inequalities within society, emphasizing class struggle and the role of economic power.

Social Inequality

Within a group or society, there are unequal prospects and compensations for distinct social positions or statuses.

Social Roles

The parts individuals play as members of a social group, which are accompanied by a set of expectations from the society regarding their behavior.