Culture is the basis of______________?
Correct answer: A. human social life
- A. human social life
- B. not only human but also ant society
- C. all animal groups
- D. none of the above
Explanation
Culture provides the shared values, norms, and practices that organize human relationships and make social life possible. Although some animals display group behavior, the statement specifically refers to human social life.
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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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