In the Supply-And-Demand Diagram of the Market for Peanut Butter,the

question 86

Multiple Choice

In the supply-and-demand diagram of the market for peanut butter,the equilibrium point has moved down and to the right.What could have caused this?

• A) a fall in the price of peanuts
• B) a rise in the price of peanuts
• C) a rise in income,assuming that peanut butter is an inferior good
• D) a shift in preferences toward peanut butter

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Definitions:

Davis-Moore Thesis

A sociological proposition arguing that social stratification has beneficial consequences for the operation of society, by ensuring the most capable individuals fill the most important roles and receive the highest rewards.

Social Inequality

The existence of unequal opportunities and rewards for different social positions or statuses within a society or group.

Highly Rewarded Positions

Occupations or roles within a structure or system that offer significant compensation, prestige, or privileges compared to others.

Indian Constitution

The supreme law of India, laying down the framework demarcating fundamental political code, structure, procedures, powers, and duties of government institutions and sets out fundamental rights, directive principles, and the duties of citizens.