An example of a permanent or enduring subculture would be_______________?
Correct answer: B. the military establishment
- A. a group of guerrillas
- B. the military establishment
- C. life in a survivalist enclave
- D. a doomsday cult
Explanation
The military establishment is an enduring institutional subculture with stable membership, traditions, values, and norms. Guerrilla groups, survivalist enclaves, and doomsday cults may be temporary or less institutionally permanent.
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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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