Which of the Following Characteristics Describe the African-American Community

question 27

Multiple Choice

Which of the following characteristics describe the African-American community?

• A) They are a monolithic group.
• B) They are often associated with the urban market.
• C) They are the largest U.S. minority.
• D) They share a common heritage and goals.
• E) African-American women make most household financial decisions.
• F) All of the above are true

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Definitions:

Utility

The satisfaction or benefit derived by consumers from consuming goods and services.

Opportunity Cost

The potential benefit that is missed out on when choosing one alternative over another.

Production Possibilities

Production possibilities refer to the different combinations of goods and services that an economy can produce given its available resources and technology, illustrated by the production possibilities frontier (PPF).

Consumer Goods

Products and services that are consumed by individuals or households to satisfy their immediate needs and wants.