Which of the Following Is a Characteristic of a Culture

question 12

Multiple Choice

Which of the following is a characteristic of a culture that values a centralized approach to power?

• A) There are clear lines of authority in who reports to whom.
• B) Leadership is spread out among a number of people.
• C) Power and influence are shared by many people.
• D) Decisions are made by consensus.

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Definitions:

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Competitive Market

A market structure characterized by many buyers and sellers, where no single entity has the power to influence market prices.

Profit

Profit is the financial benefit realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in maintaining the activity.

Short-Run Equilibrium

A situation in a market where demand equals supply, resulting in a stable price level, but which may not reflect long-term market dynamics.