Which of the following is an example of a culture complex ?
Correct answer: D. playing football
- A. a football
- B. goal posts
- C. team uniforms
- D. playing football
Explanation
A culture complex is a group of related cultural traits organized around one activity or institution. Playing football combines rules, equipment, roles, uniforms, and team organization, whereas a football alone is only one cultural trait.
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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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