All of the Following Are Main Assumptions of Stratification Except

question 68

Multiple Choice

All of the following are main assumptions of stratification except:

• A) Wealth is the most important resource.
• B) People are divided into ranked categories.
• C) There is an unequal distribution of desired resources.
• D) Each society determines what it considers to be valued resources.

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Definitions:

Labor Supply

The total hours that workers are willing and able to work at a given wage rate, across an economy or market.

Marginal Revenue Product

The additional revenue a firm earns by employing one more unit of input, such as labor or capital.

Variable Input

An input in the production process that can be varied in the short term to adjust output, such as labor or raw materials.

Profit-maximizing

The process or strategy by which a firm determines the price and output level that returns the greatest profit.