A Parent Asks How to Prevent Her 10-Year-Old Son from Becoming

question 26

Multiple Choice

A parent asks how to prevent her 10-year-old son from becoming involved in gang violence.The best response should be:

• A) "Become aware of any gang-related activity in your neighborhood."
• B) "Try to become more of a 'pal' to your son so that he won't look for outside approval."
• C) "Don't place too many restrictions on your son. He needs to increase his independence and this will show that you trust him."
• D) "Don't allow him to join 'boys-only' groups."

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Definitions:

Perfect Competitor

An entity in a highly competitive market where firms sell homogeneous products, have no control over market price, and where there is free entry and exit of firms.

Elastic Demand Curve

Represents a situation where the quantity demanded of a good or service significantly changes in response to a change in price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at various prices.

Monopolistic Competitor

A market structure where many firms sell products that are similar but not identical, thereby having some control over their prices.