One Difference Between a Traditional and Modern Societies Is

question 62

Multiple Choice

One difference between a traditional and modern societies is

• A) The traditional society looks to the past for ways to behave; a modern society looks to the present.
• B) A modern society values its elders; the traditional society does not.
• C) Traditional societies tend to use achieved status; Modern societies do not.
• D) None; Traditional and modern societies are the same.

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Definitions:

Demand Increases

A situation in market analysis where the quantity of a good or service that consumers are willing and able to buy rises.

Market Price

The current price at which a good or service can be bought or sold in the marketplace.

Perfectly Competitive Industry

An economic framework where numerous sellers and buyers exist, with unrestricted entry and exit, and the product offered is uniform.

Increase Revenue

Strategies or actions that lead to a rise in the total amount of money received by a company for goods sold or services provided.