Refer to the Diagram

question 273

Multiple Choice

Refer to the diagram. Process innovation will tend to

• A)shift ATC₁ to ATC₂.
• B)shift ATC₂ to ATC₁.
• C)change output from _Q1 to Q₂.
• D)change output from _Q2 to Q₁.

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Definitions:

Social Inequality

The presence of unequal chances and benefits for various social roles or statuses within a community or society.

Hunting And Gathering

An ancient subsistence strategy involving the hunting of animals and foraging of plant life, oftentimes practiced by nomadic societies.

Foraging Societies

Those in which people live by searching for wild plants and hunting wild animals. Such societies predominated until about 10,000 years ago. Inequality, the division of labor, productivity, and settlement size are very low in such societies.

Service Sector

A segment of the economy that involves providing services rather than producing goods, including industries like banking, healthcare, and education.