Craftsmen foremen secretary's office workers belong to the________________?
Correct answer: C. working class
- A. upper-middle class
- B. middle-middle class
- C. working class
- D. "new class"
Explanation
Craftsmen, foremen, secretaries, and similar office workers generally occupy lower-status paid employment and are placed in the working class in this classification. The upper- and middle-middle classes contain more highly credentialed or managerial occupations.
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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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