Ethnocentrism Is a Generalization About a Group of People That

question 71

True/False

Ethnocentrism is a generalization about a group of people that oversimplifies their characteristics..

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Definitions:

Export

The act of sending goods or services from one country to another for sale or trade.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit received from the purchase.

World Price

The international market price of a good or service, influenced by global supply and demand.

Free Trade

An economic policy that allows goods and services to be bought and sold across international borders with little to no government tariffs, quotas, subsidies, or prohibitions to inhibit exchange.