The Process of Denying Opportunities and Equal Rights to Individuals

question 63

Multiple Choice

The process of denying opportunities and equal rights to individuals and groups because of prejudice or for other arbitrary reasons is known as

• A)stereotyping.
• B)ethnocentrism.
• C)discrimination.
• D)segregation.

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Definitions:

Pure Competition

A theoretical market structure with a large number of sellers and buyers, identical products, and no barriers to market entry or exit, promoting efficient pricing.

Minimum

The lowest allowable or possible amount, level, or number in a given set of circumstances.

Allocative Efficiency

Refers to a state in which resources are distributed in a way that maximizes the net benefit to society, ensuring that goods and services are produced at the right quantities to meet consumer preferences.

Long-run Equilibrium

A state in which all factors of production are optimally distributed meeting the demands of consumers; also, a point where economic forces such as supply and demand are balanced.