A child in the United States is normally exposed to all of the following values EXCEPT ?
Correct answer: D. collectivism
- A. achievement ans success
- B. activity and involvement
- C. material comfort
- D. collectivism
Explanation
Individualism is a typical value associated with United States culture, whereas collectivism places greater emphasis on group loyalty and shared goals. Achievement, activity, and material comfort are commonly identified American cultural values.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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