Prices Usually Reflect

question 69

Multiple Choice

Prices usually reflect

• A)only the value of a good to society.
• B)only the cost to society of making a good.
• C)both the value of a good to society and the cost to society of making the good.
• D)neither the value of a good to society nor the cost to society of making the good.

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Definitions:

Schema

Cognitive structures that help individuals organize and interpret information, based on knowledge gained from past experiences.

Assimilated

The process by which individuals or groups of differing culture come to resemble those of the dominant group, sometimes including the adoption of language, customs, and values.

Accommodated

Adjusted or modified to meet specific needs or requirements.

Birth Cohort

A group of individuals born during the same time period, experiencing certain social and historical events at similar stages of life.