The Amount by Which an Additional Unit of an Activity

question 53

Multiple Choice

The amount by which an additional unit of an activity increases total benefit is:

• A)net benefit.
• B)marginal benefit.
• C)marginal cost.
• D)utility.

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Definitions:

Conservatives

A political ideology emphasizing the value of traditional institutions and practices, limited government, and, often, a free-market economy.

Socialists

Individuals or groups advocating for a political and economic system where production, distribution, and exchange are owned or regulated by the community as a whole.

Federalists

A political group that supported the ratification of the Constitution and favored a strong national government.

Dred Scott

An African American man whose legal fight for freedom led to a Supreme Court ruling that escalated tensions leading to the American Civil War.