Eighteen-Year-Old Tim Feels Pressured by Internal Needs and the External

question 70

Multiple Choice

Eighteen-year-old Tim feels pressured by internal needs and the external demands of society to make a major change in a new direction,and so he decides to attend college.Erikson would say that Time is experiencing a/n:

• A)urge.
• B)crisis.
• C)phase.
• D)defence mechanism.

---

Definitions:

Normal Profit

The minimum profit necessary for a company to remain competitive in the market, often considered the cost of doing business.

Marginal Cost

The cost increase associated with the production of an extra unit of a product or service.

Competitive Firms

Businesses that operate in a market environment where they vie with others to offer goods or services, focusing on price, quality, and innovation.

Monopolists

Individuals or entities that hold a monopoly, controlling the entire supply of a good or service in a particular market, eliminating competition.