While There Is No Specific Number of Firms That Must

question 31

Multiple Choice

While there is no specific number of firms that must dominate an industry before it is an oligopoly, the number of sellers characterizes an oligopoly when

• A) there are more firms than a monopolistically competitive market.
• B) there is a sufficient number of firms to satisfy the market demand.
• C) the firms are so large relative to the total market that they can affect the market price.
• D) the firms are so small relative to the total market that they cannot affect the market price.

Understand age stratification and its implications on society.

Analyze the causes and consequences of an aging population in the United States.

Understand theories explaining gender role development and gender identity formation.

Recognize the impact of biological, psychological, and social factors on gender identity and roles.

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Definitions:

Marcia

A reference to James Marcia's theory on identity status, addressing the processes of exploration and decision making that lead to various identity outcomes in adolescence.

Erikson

Erik Erikson, a German-American developmental psychologist and psychoanalyst known for his theory on the psychological development of human beings, including the concept of identity crisis.

Autonomy versus Shame and Doubt

A stage in Erik Erikson's theory of psychosocial development where toddlers learn to exercise will and do things independently, leading to a sense of autonomy, or they doubt their abilities, leading to feelings of shame and doubt.

Industry versus Inferiority

Erikson's fourth stage of psychosocial development, where children learn to master tasks and develop a sense of competency or inadequacy based on their successes or failures.