The Proletariat Refers to Those Who Own and Control Capital

question 57

True/False

The proletariat refers to those who own and control capital and the means of production and can amass wealth and power.

Distinguish between types of social movements and their approaches to change.

Comprehend the influence of collective behavior on public opinion and social movements.

Examine the distinction between material and nonmaterial social change.

Understand the emergence and impact of informal social movements on local issues.

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay; a measure of consumer benefit.

Producer Surplus

The difference between the amount a producer is actually paid for a good compared to the minimum amount they would accept for the good.

Excess Supply

A market condition where the quantity of a commodity available for sale exceeds the quantity demanded at the current price.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive, representing their gain.