An individual learns to be a human being by______________?
Correct answer: B. socialization
- A. instincts
- B. socialization
- C. cosmic influences
- D. in our society watching television
Explanation
Socialization teaches an individual the language, norms, values, and behaviour needed to function as a human member of society. Instincts alone do not provide this cultural learning.
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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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