Which of the Following Is Not a Social Group

question 63

Multiple Choice

Which of the following is not a social group?

• A) friends
• B) families
• C) television programming
• D) norms
• E) work groups

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Definitions:

Price Ceiling

Price Ceiling is a government-imposed limit on how high a price can be charged for a product or service, intended to protect consumers from excessive costs.

Market Equilibrium

Market equilibrium is a condition in a market where the quantity demanded equals the quantity supplied, resulting in no pressure for the price to change.

Consumer Surplus

The gap between the total sum consumers are ready and able to spend on a good or service, and the sum they actually do spend.

Market Equilibrium

The condition in which the quantity of a product supplied is equal to the quantity demanded, leading to a stable market price.