Factors in the urban crisis include_______________?
Correct answer: D. all of the above
- A. the move of the middle class and industry to the suburbs
- B. the inner city,s declining tax base
- C. a high percentage of deprived and trapped individuals
- D. all of the above
Explanation
The urban crisis is associated with suburban movement of households and industry, a shrinking inner-city tax base, and a concentration of deprived residents. Since all three factors contribute, the inclusive option is correct.
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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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