Which of the Following Statements About Chiefs Is Most Correct

question 50

Multiple Choice

Which of the following statements about chiefs is most correct?

• A)Chiefs only exist in band-level societies.
• B)Chiefs' roles are mainly symbolic and have little economic or political importance.
• C)Much of a chief's power is based on his ability to redistribute goods and services.
• D)Chiefs are most important during times of war and have little to do in times of peace.
• E)Chiefs did not exist anywhere before contact with the West;they were created by Europeans to make political dominance easier.

---

Definitions:

Net Change

refers to the difference in a financial instrument's closing price from one period to the next, indicating the level of price movement or volatility over time.

Utility

An economic term denoting the total satisfaction received from consuming a good or service.

Endowment Effect

A mental prejudice in which individuals attribute higher worth to items simply because they possess them.

Prospect Theory

A behavioral economic theory that describes how people make decisions between probabilistic alternatives that involve risk, where the outcomes are known.