The Term Ponzi Is Named After Charles Ponzi, Who Developed

question 52

Multiple Choice

The term Ponzi is named after Charles Ponzi, who developed a money-making scheme in the 1920s. A Ponzi scheme relies on:

• A) attracting new investors to the scheme, whose money is used to pay existing investors and hence keep the scheme going.
• B) asking existing investors in the scheme to pay back new investors and hence keep the scheme going.
• C) finding new investors to keep the scheme going
• D) Rewarding existing investors in the scheme with money from their investments.

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a feeling of contempt for other cultures.

Prejudice

An unfounded or biased preconception or attitude towards individuals or groups based on characteristics like race, gender, or social status.

Discrimination

refers to unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by prejudice against others.