Structural functionalism is the intellectual descendent of________________?
Correct answer: D. Classical conservatism
- A. Marxism
- B. Social Darwinism
- C. Classical liberalism
- D. Classical conservatism
Explanation
Structural functionalism emphasizes order, stability and the contribution of institutions to society, ideas closely associated with classical conservatism. Marxism instead provides the main foundation for conflict theory.
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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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