The conflict theory of inequality is based on the work of______________?
Correct answer: B. Karl Marx
- A. Charles Darwin
- B. Karl Marx
- C. Talcott Parsons
- D. Kingsley Davis
Explanation
Conflict theory treats inequality as the result of competition between groups with unequal power and resources, following Karl Marx's analysis of class conflict. Parsons and Davis are associated with functionalist perspectives.
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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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