Figure 1.3 -If You Have a Choice of Consuming Either Two Apples

question 76

Multiple Choice

Figure 1.3

-If you have a choice of consuming either two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is:

• A)two apples.
• B)three oranges.
• C)two apples and three oranges.
• D)two apples or three oranges, whichever you value more.
• E)the difference in the prices of the three options.

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Definitions:

Power Elite Model

A theory in sociology that suggests power is concentrated in the hands of a small, elite group of people, institutions, and corporations.

Commercial Enterprises

Businesses or companies engaged in the buying and selling of goods or services with the aim of earning profits.

Rich and Powerful

Individuals or groups who possess significant wealth and influence, often shaping societal structures, policies, and norms to their advantage.

Functionalist Perspective

A sociological approach that views society as a system of interrelated parts, each with a specific function.