Persons Born into Different Cultures

question 26

Multiple Choice

Persons born into different cultures

• A) have very similar values as children.
• B) are taught very different values from birth.
• C) are quite different from other persons in their own culture in terms of habits and beliefs.
• D) cannot and should not be thought of as having different worldviews.

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Definitions:

Accounting Profit

The difference between the total revenue received from sales and the total explicit costs of a business.

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Implicit Costs

The opportunity costs of using resources that a business already owns, representing the potential income lost in employing them in a specific task.

Forgone Income

Income not earned due to choosing an alternative action, such as studying full-time instead of working.