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Describe the Process of Cultural Diffusion and Explain How It

question 5

Essay

Describe the process of cultural diffusion and explain how it contributes to cultural leveling. Give an example.


Definitions:

Term Deposit

A deposit at a financial institution that has a fixed term and typically offers a higher interest rate than a regular savings account.

Simple Interest

A method of calculating interest where the charge is based on the original principal amount alone, without compounding.

Interest

Interest is the cost of borrowing money, typically expressed as a percentage of the principal amount.

Rate Of Interest

The percentage of principal charged by the lender for the use of its money.

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