Giving Priority to One's Own Goals Over Group Goals and Defining

question 7

Multiple Choice

Giving priority to one's own goals over group goals and defining one's identity in terms of personal attributes rather than group identifications is the definition of:

• A)socialism.
• B)communism.
• C)collectivism.
• D)individualism.

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Definitions:

Illusory Agreement

A contract or agreement that appears to be binding but lacks the necessary elements to enforce it, often because terms are too vague or one party has the option not to perform.

Monetary Value

The economic worth assigned to goods, services, or assets in terms of currency.

Promissory Estoppel

A legal principle that prevents a person from going back on a promise, even if it was made without formal consideration, if another person reasonably relied on that promise to their detriment.

Accord And Satisfaction

A legal agreement between parties to settle a dispute where one party agrees to accept less than owed to resolve the claim.