Why Did Having Many Children Make Sense Before the Days

question 27

Multiple Choice

Why did having many children make sense before the days of old age pensions,family allowance,and welfare?

• A)The family was a stronger social institution.
• B)People had limited access to contraceptives.
• C)Children provided natural companions in old age.
• D)Children provided the best social security system.

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Definitions:

Product Differentiation

The strategy of making a product or service stand out from competitors in the market by emphasizing unique features, quality, or branding.

Market Structure

The organizational and other characteristics of a market that influence the nature of competition and pricing.

Strategic Behavior

The actions taken by companies or individuals in anticipation of their rivals' actions and reactions to maximize their own benefits.

Influences Market Price

Factors or conditions that affect the selling price of goods or services in a market, including supply, demand, competition, and external economic conditions.