In the United States___________________?
Correct answer: C. values norms and beliefs are often in conflict
- A. values norms and beliefs are always in agreement
- B. values norms and beliefs are unimportant
- C. values norms and beliefs are often in conflict
- D. people value and believe what they please because its a free country
Explanation
Values, norms, and beliefs do not always fit together, so conflict can arise between what people consider desirable and how institutions or individuals actually behave. Freedom of belief does not remove these social contradictions.
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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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