Characteristics of National Origin or Distinctive Cultural Patterns Are Used

question 101

Multiple Choice

Characteristics of national origin or distinctive cultural patterns are used primarily by a society to set apart

• A)minority groups.
• B)ethnic groups.
• C)racial groups.
• D)polarization groups.

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Definitions:

Bank Loan

A sum of money borrowed from a bank that must be repaid with interest over a set period.

Diminishing Marginal Product

The principle that as the quantity of a factor of production increases, holding all other inputs constant, the additional output generated by one more unit of that factor will eventually decrease.

Total Cost Function

A mathematical relationship expressing the total cost of production as a function of the quantity of output.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs required for the production of goods or services.