For Us to Understand Sociology

question 6

Multiple Choice

For us to understand sociology:

• A) We only need to know about one theory or perspective
• B) We need to know about a number of theories and perspectives
• C) We don't need to know about theories and perspectives
• D) None of the above

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Definitions:

Diminishing Marginal Returns

An economic principle stating that as one factor of production increases while others remain constant, the incremental gains in output will eventually decrease.

Input

Resources such as labor, materials, and capital used in the production of goods and services.

Average Fixed Cost

The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced.

Output

The total quantity of goods or services produced by a firm or economy over a specific period.