ideologies may be described as_______________?
Correct answer: A. simplified world views
- A. simplified world views
- B. complex explanations of the world
- C. rejecting action
- D. none of the above
Explanation
An ideology is a simplified worldview that helps people interpret society and guide their actions. It is not necessarily a complex explanation and does not reject action.
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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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