In 1906, Sociologist William Sumner Made the Comment, "One's Own

question 64

Multiple Choice

In 1906, sociologist William Sumner made the comment, "One's own group is the center of everything, and all others are scaled and rated with reference to it." This statement is most aligned with the concept of ________.

• A) cultural relativism
• B) ethnocentrism
• C) the relativist fallacy
• D) the cultural universal

---

Definitions:

Convertible Bond

A type of corporate bond that can be converted into a pre-specified amount of the issuing company's equity at certain times during its life, usually at the discretion of the bondholder.

Bond Principal

The face value of a bond, or the amount of money the issuer promises to repay the bondholder at the time of maturity, not including interest payments.

Real Rate

The inflation-adjusted interest rate, representing the actual cost of borrowing or the genuine return on an investment.

Buying Power

The amount of goods or services that can be purchased with a unit of currency or by consumers, reflecting the value of money.