Resistance Movements That Seek to Prevent Change That Has Already

question 133

Multiple Choice

Resistance movements that seek to prevent change that has already occurred are also referred to by what other name?

• A) revolutionary
• B) reform
• C) religious
• D) regressive

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Definitions:

Medallions

Licenses or permits, often used in reference to the system regulating taxis where a limited number of medallions are issued, granting the right to operate a cab.

Price Floor

A government-imposed minimum price for goods or services, intended to prevent prices from falling below a certain level.

Market-clearing Price

The price at which the quantity demanded by buyers equals the quantity supplied by sellers, eliminating any surplus or shortage in the market.

Surplus

The condition in which the quantity of a good or service supplied exceeds the quantity demanded at the current price.