Question

In: Economics

Now differentiate this “economic” explanation of behavior from theories developed by the following groups of thinkers:...

Now differentiate this “economic” explanation of behavior from theories developed by the following groups of thinkers: (a) sociologists. (b) medieval scholastics. (c) evolutionary biologists.

Solutions

Expert Solution

a) Socioligists:

In economics and marketing, product differentiation (or simplydifferentiation) is the process of distinguishing a product or service from others, to make it more attractive to a particular target market.This involves differentiating it from competitors' products as well as a firm's own products.According to functionalism, sociologists can explain social structures and social behavior in terms of the components of a society and their functions. Auguste Comte helped develop functionalism in the 19th century, and functionalist Emile Durkheim later compared society to the human body.

b) Medieval Scholastics:

The term "schoolmen" is also commonly used to describe scholastics. Scholasticism is best known for its application in medieval Christian theology, especially in attempts to reconcile the philosophy of the ancient classical philosophers (particularly Aristotle) with Christian theology.

c) Evolutionary:

Evolutionary biology is the subfield of biology that studies theevolutionary processes that produced the diversity of life on Earth, starting from a single common ancestor. These processes include natural selection, common descent, and speciation.


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