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question 32

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Use the following to answer questions:
Select the word or phrase from the Terms section that best matches the definition or example provided in the Definitions section.
Terms
-The system of social organization in India that has evolved over millennia; it is based on an original division of the populace into four inherited classes.


Definitions:

Utility Maximization

An economic principle that suggests individuals seek to achieve the highest level of satisfaction or utility from their actions and decisions.

Needs and Wants

The basic requirements for survival, such as food and shelter, compared to desires or wishes that do not necessarily contribute to one’s survival.

World Trade Organization

An international organization that regulates and facilitates international trade between nations.

Legally Binding

Refers to agreements or promises that are enforceable by law.

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