Which of the Following Do Democracies Usually Support

question 73

Multiple Choice

Which of the following do democracies usually support?
I. institutions that are bad for economic growth
II. free markets, property rights, and the rule of law
III. policies that don't kill their own citizens

• A) I and II only
• B) II and III only
• C) III only
• D) II only

Understand the concept of social psychology and the impact of social influences on human behavior.

Recognize the natural human tendency to seek information and support from others.

Appreciate the significance of consumer psychology in determining value from purchases.

Describe the relative advantages of human sensory organs compared to other animals.

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Definitions:

Output

The total amount of goods or services produced by a company, industry, or economy over a certain period.

Elastic Range

The segment of a demand curve where any change in price leads to a more than proportionate change in the quantity demanded.

Pure Monopolist

A sole producer in a market with no close substitutes for the product, allowing for the control of price.

Marginal Revenue

The supplementary earnings obtained from the sale of one more unit of a product or service.