When Members of a Particular Ethnic Group Believe That Their

question 25

Multiple Choice

When members of a particular ethnic group believe that their beliefs and practices are the best,this is called:

• A) prejudice.
• B) separatism.
• C) ethnocentrism.
• D) bias.

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Definitions:

Economic Theory

A set of principles and methodologies that economists use to understand, model, and predict economic behaviors and outcomes.

Purchasing Price

The price at which an item or service is bought, including taxes and additional fees.

Third Party

An entity involved in a transaction or situation which is neither the buyer nor the seller, but may have an interest or role.

Real Expenditures

Spending adjusted for inflation, which reflects the actual purchasing power of money on goods and services, providing a more accurate measure of economic activity.