The Additional Benefit of Increasing Some Activity by One-Unit Is

question 211

Multiple Choice

The additional benefit of increasing some activity by one-unit is called the

• A) marginal benefit.
• B) opportunity cost.
• C) total benefit.
• D) scarcity.
• E) unit cost/benefit.

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Definitions:

Power Differentials

The disparities in power between individuals or groups in a social hierarchy or structure.

Social Interaction

The process by which people act and react in relation to others, forming the basis of social relationships and structures.

Social Structure

The organized pattern of social relationships and social institutions that together constitute society, guiding and constraining individual behaviors.

Rational Choice Theory

An economic principle that assumes individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.