What Is the Right to a Basic and Minimum Standard

question 20

Multiple Choice

What is the right to a basic and minimum standard of living in Canada part of?

• A) universal citizenship
• B) political citizenship
• C) civil citizenship
• D) social citizenship

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Definitions:

Profits

The financial gain realized when the revenue from selling goods or services exceeds the costs of production.

Monopolized

Refers to a market structure where a single firm or entity controls a significant portion of the market share, reducing competition.

Consumer Surplus

Consumer Surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Net Social Gain

The overall benefit to society, calculated by subtracting total social costs from total social benefits.