There is a tendency for people to_______________?
Correct answer: B. accept group norms
- A. rebel against group norms
- B. accept group norms
- C. respond only to negative sanctions
- D. respond only to violence
Explanation
People generally accept and follow group norms because socialization and sanctions encourage conformity. Rebellion and responses only to violence or negative sanctions are not general tendencies.
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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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