A Social System in Which Those with Particular Attributes Are

question 15

Multiple Choice

A social system in which those with particular attributes are rewarded is known as:

• A)An economy
• B)A meritocracy
• C)A bureaucracy
• D)A collective

---

Definitions:

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Total Revenues

The overall amount of money generated by a business from its sales or services before any costs or expenses are deducted.

Normal Rate

The standard or average rate at which something occurs, such as interest rates, inflation, or unemployment rates.

Accounting Profit

The net income of a business as calculated by subtracting total expenses from total revenues, according to standard accounting principles.