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A Child's Belief That Rules Are Created by Wise Adults

question 33

True/False

A child's belief that rules are created by wise adults and they must be followed and cannot be changed is called moral relativism.


Definitions:

Linear Demand Curve

A graph showing a straight-line relationship between the price of a good and the quantity demanded.

Demand

The quantity of a good or service that consumers are willing and able to purchase at different prices.

Total Revenue

The total amount of money a firm receives from sales of its products or services, calculated by multiplying the price per unit by the total number of units sold.

Price-inelastic

Price-inelastic describes a situation where the demand for a product or service is relatively unresponsive to changes in its price.

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