Forced Borrowing Under Conditions of External Pressure Is a Form

question 28

Multiple Choice

Forced borrowing under conditions of external pressure is a form of:

• A) cultural diffusion.
• B) cultural innovation.
• C) acculturation.
• D) invention.
• E) colonialism.

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Definitions:

Cartel

A group of independent market participants who collude to increase prices and limit output in order to maximize their collective profits.

Marginal Cost

The hike in cost resulting from the creation of one more unit of a product or service.

Cartel

An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often leading to higher prices and restricted supply.

Marginal Cost

The hike in overall financial outlay due to producing an extra unit of a product or service.