Which of the Following Holds True for Ethnic Groups Who

question 26

Multiple Choice

Which of the following holds true for ethnic groups who have migrated to Canada?

• A)In general, ethnic Canadians spend less than their white counterparts on big-ticket items such as cars, clothing, and home furnishings.
• B)South Asian and Chinese immigrants are typically young, educated, and wealthy.
• C)Currently half of all visible minorities in Canada are under 14 years.
• D)They account for nearly 10 percent of Canada's population growth.
• E)Russians represent the fastest-growing ethnic group.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Profit

The financial gain that results when the revenues generated from business activities exceed the expenses, taxes, and costs incurred.

Competitive Market

A market structure characterized by many buyers and sellers, where all entities have little to no power to influence prices or market conditions.

Transaction Costs

Transaction costs are expenses incurred when buying or selling goods or services, including the costs of searching for information, negotiations, and enforcement of contracts.