Which of the Following Terms Is Often Used Interchangeably with Ethnic

question 199

Multiple Choice

Which of the following terms is often used interchangeably with ethnic group?

• A) peer group
• B) racial group
• C) culture group
• D) faith community

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Definitions:

Legal Structure

The framework within which a business operates, including its designation as a corporation, partnership, sole proprietorship, or other legal entity.

Barrier To Entry

Factors that make it difficult for new competitors to enter a market, such as high start-up costs or regulatory hurdles.

Price-Control Legislation

Laws enacted by a government to regulate the prices charged for goods and services in the market, often to protect consumers.

Invisible Hand Principle

The tendency of market prices to direct individuals pursuing their own interests to engage in activities promoting the economic well-being of society.