Humans depend on others for full development and generally live in groups They are________________?
Correct answer: B. social
- A. cultural
- B. social
- C. intelligent
- D. symbolic
Explanation
Humans are social because they depend on interaction and cooperation with others and normally live in organized groups. Intelligence and symbolism are human traits, but they do not specifically describe group living.
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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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