Sarah, a Student at an American University, Has Just Arrived

question 194

Multiple Choice

Sarah, a student at an American university, has just arrived in Bolivia for a study year abroad. When meeting her host parents, she notices that they stand very close to her as they speak. She feels uncomfortable until she realizes that __________.

• A) they have different cultural norms concerning the use of space
• B) she is just nervous about her trip
• C) their emblem use differs from her own
• D) social roles are different in Latin America

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Definitions:

Marginal Value

The additional benefit received by consuming or using one more unit of a good or service.

Markdown

A reduction from the original selling price of goods or services to increase their attractiveness to buyers.

Monopsony Power

The market power held by a single buyer, allowing them to dictate prices to sellers due to a lack of competition.

Monopoly Power

The ability of a monopolist to significantly control market price and exclude competitors by owning a majority of the market share.