What Is Economic Determinism

question 23

Multiple Choice

What is economic determinism?

• A) It is the idea that economics is determined by politics.
• B) Economics drives political behavior and political outcomes.
• C) It suggests that class is more important than wealth.
• D) The owners of capital are known collectively as the bourgeoisie, and the workers are known as the proletariat.

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Definitions:

Behavior

The actions or reactions of an individual or system in response to external or internal stimuli.

Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group.

Total Surplus

Total surplus is the sum of consumer surplus and producer surplus in a market, representing the total net benefit to society from trading in the market.

Trade

The act of buying, selling, or exchanging goods and services between people or countries, encompassing both domestic and international transactions.