_______ beliefs values are open to some degree of change ?
Correct answer: D. Secondary
- A. Crucial
- B. Core
- C. Primary
- D. Secondary
Explanation
Secondary beliefs and values are learned preferences that can change over time, such as views about fashion or lifestyle. Core beliefs and values are more deeply held and resistant to change.
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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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