According to George Murdock, All but One of the Following

question 48

Multiple Choice

According to George Murdock, all but one of the following is an example of a cultural universal. Which one is NOT a cultural universal?

• A) funeral rites
• B) a desire for economic growth
• C) telling jokes
• D) the family

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Definitions:

Utility Function

A mathematical representation of how different quantities of goods or services are ranked according to their desirability for a consumer.

Initial Endowment

The initial distribution of income, wealth, or resources that individuals or organizations possess before entering into any market transactions.

Numeraire

A unit of account in which prices are expressed in an economic model, facilitating comparison and calculation.

Competitive Equilibrium Price

The price level at which the quantity supplied equals the quantity demanded in a competitive market, ensuring no excess supply or demand.