Applying Mass-Society Theory,you Would Claim That the Biggest Micro-Level Problem

question 57

Multiple Choice

Applying mass-society theory,you would claim that the biggest micro-level problem facing individuals in modern society is

• A)poverty.
• B)too much tradition.
• C)powerlessness.
• D)establishing a clear personal identity.

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Definitions:

Government Failure

Inefficiencies in resource allocation caused by problems in the operation of the public sector (government). Specific examples include the principal-agent problem, the special-interest effect, the collective-action problem, rent seeking, and political corruption.

Size and Scope

Refers to the scale of a business's operations and the breadth of its products, services, and market reach.

Invisible Hand

A concept introduced by Adam Smith to describe how individuals' self-interested actions can lead to positive outcomes for the society as a whole.

Economic Efficiency

A state where all resources are distributed in the most efficient manner possible to benefit each person or entity, thereby reducing waste and inefficiency to the minimum.