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Economics Has Much in Common with Sociology Because It Is

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True/False

Economics has much in common with sociology because it is concerned with how societies organize themselves. However, economics shares little in common with political science, psychology or anthropology.


Definitions:

Demand Curve

A graph that shows the relationship between the quantity of a good demanded and its price.

Completely Vertical

In economics, this can refer to a supply curve that is perfectly vertical, indicating that the quantity supplied is completely unresponsive to changes in price.

Price Elasticity of Demand

The extent to which the demand for a good adjusts in response to price fluctuations.

American Girl Dolls

A brand of dolls and associated books and accessories that represent a variety of historical periods and contemporary settings, aimed at educating and entertaining children.

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