Which of the Following Must Be True for a Country

question 113

Multiple Choice

Which of the following must be true for a country to be a price taker in the global market for a particular good?

• A)The quantity of the good produced and consumed must be very small relative to the total amount bought and sold worldwide.
• B)The quantity of the good produced and consumed must be very large relative to the total amount bought and sold worldwide.
• C)Many sellers must supply a very significant amount of the good to the market.
• D)Many buyers must consume a large amount of the good from the market.

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Definitions:

Proximity

A Gestalt principle of perception; the tendency to perceive objects that are close to each other as part of the same grouping; physical or geographical nearness.

Acculturation

The process of cultural change and psychological change that results following meeting between cultures, including adopting the cultural traits or social patterns of another group.

Acculturative Stress

The psychological impact of adapting to a new culture, which may involve stress due to loss of social support systems, identity confusion, and facing discrimination.

Marginalized

Describes individuals or groups that are excluded, ignored, or relegated to the outer edge of society or a community.