Examlex
A sociologist named Sudhir Venkatesh recently spent almost a decade studying a street gang in Chicago.He spoke with various gang members,spent time with them in their hangouts,and accompanied them when they conducted business dealings.Which research methods did Venkatesh use?
Capital
Represents resources like funds, equipment, and properties used in the production of goods and services, contributing to the wealth of businesses or economies.
Comparative Advantage
is the ability of an individual or country to produce a good or service at a lower opportunity cost than competitors.
Opportunity Cost
The cost of what is foregone in order to pursue a certain action, essentially the benefits you could have received by taking an alternative action.
Consumer Sovereignty
The idea that consumers ultimately dictate what will be produced (or not produced) by choosing what to purchase (and what not to purchase).
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