Defined as Cultural Patterns That Are Widespread, _____ Constantly Shifts

question 28

Multiple Choice

Defined as cultural patterns that are widespread, _____ constantly shifts as technology advances and as the media promotes new or different ideas and behaviors.

• A) Emergent culture
• B) Popular culture
• C) Socialization
• D) Culturecentrism

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Definitions:

Economic Profit

Profits earned by a firm or an individual after subtracting both the explicit costs and opportunity costs of resources employed.

Short Run

A time period in which at least one factor of production is fixed and cannot be changed, contrasting with the long run where all factors are variable.

Perfectly Competitive Firm

A company that operates in a market where there are many buyers and sellers, where it sells a homogeneous product and where there is free entry and exit from the market.

Marginal Cost

The bump in overall costs arising from the production of an additional product or service unit.