To say that American music is the best in the world is an example of__________________?
Correct answer: A. ethnocentrism
- A. ethnocentrism
- B. cultural relativity
- C. the truth
- D. a value
Explanation
Calling one’s own society’s music the best reflects ethnocentrism, the tendency to judge other cultures by the standards of one’s own culture. It is an evaluative statement, but the cultural-bias concept being tested is ethnocentrism.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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