White -collar crime_____________?
Correct answer: C. is very costly to society
- A. is based on violence
- B. gains small amounts of money for its perpetrators
- C. is very costly to society
- D. is punished more severely than blue-collar crime
Explanation
White-collar crime is usually nonviolent occupational or business crime, but fraud and corporate offences can impose very large costs on society. It is not normally punished more severely than blue-collar crime.
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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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