The mechanisms of upward mobility of minorities did NOT include?
Correct answer: D. a social caste system
- A. internal economic development and specialization
- B. development of a middle class
- C. geographic concentration
- D. a social caste system
Explanation
Upward mobility may be aided by economic development, specialization, a growing middle class, and sometimes geographic concentration. A social caste system preserves inherited rank and restricts mobility, so it is the exception.
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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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