Which of the following is NOT true about children in a peasant society ?
Correct answer: B. Children place more economic demands on a peasant family than an urban family
- A. Boys as young as 8 years old tend or herd animals, weed pick and sell produce
- B. Children place more economic demands on a peasant family than an urban family
- C. Major financial security is usually provided by sons
- D. The cost of education entertainment and travel is low
Explanation
In peasant societies, children often contribute labour and provide future support, so they are not usually described as placing greater economic demands than urban children. Their education, entertainment and travel costs are generally lower, while sons may provide financial security.
Last updated
About Microeconomics
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.
Practise Microeconomics
1,705 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Economics questions like this
Economics is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
Related questions
_____ 1954 study of U.S trade patterns showed that U.S exports were labor-intensive compared with U.S imports, even though the United States was widely regarded as a relatively capital-abundant nation ?
A attempts to limit outsourcing of jobs to foreigners by requiring that a minimum percentage of a product's value must be produced domestically if that good is to be sold in the domestic market ?
A binding price ceiling creates?
A borrower gives to creditor a security to grantee repayment of a loan. What is this security called ?
A buyer's willingness to pay is that buyer's ?