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Igbo children generally stay with their parents until marriage, after which both husband and wife live together but apart from both their families. The Igbo people follow the 'bride wealth' system. In contrast to dowry, which is a practice prevalent in most other societies, 'bride wealth' is money and gifts given by the groom’s family to the bride’s family. 'Bride wealth' is considered a way of compensating the bride’s family for the loss of a young and productive member.
Which of the following is a use, which when 'bride wealth' is put to, will make the compensation true to its intent, in the case of the Igbo people?
  • a)
    Put it in an interest bearing account so that the family has a regular income in the form of interest.
  • b)
    Use it to get a young wife for a member of the bride’s family.
  • c)
    Use it to buy gifts for the bride.
  • d)
    Use it for the conduct of the marriage.
  • e)
    Keep it for an emergency.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Igbo children generally stay with their parents until marriage, after ...
The given question pertains to the customs and practices of the Igbo people regarding the "bride wealth" system. The purpose of bride wealth in this context is to compensate the bride's family for the loss of a young and productive member. We are asked to identify the use of the bride wealth that aligns with this compensation intent.
Let's analyze each option:
(A) Put it in an interest-bearing account so that the family has a regular income in the form of interest.
  • This option aligns with the compensation intent because by putting the bride wealth in an interest-bearing account, the bride's family can generate a regular income. This income can serve as a form of compensation for the loss of the bride's productivity and contribution to her natal family.
(B) Use it to get a young wife for a member of the bride's family.
  • While this option may provide benefits to the bride's family, it does not directly align with the compensation intent mentioned in the question. It focuses on securing a young wife for a member of the bride's family rather than compensating for the loss of a young and productive member.
(C) Use it to buy gifts for the bride.
  • While buying gifts for the bride may be a common practice in marriages, it does not directly address the compensation intent of the bride wealth system. It focuses on the bride's side, rather than compensating the bride's family for their loss.
(D) Use it for the conduct of the marriage.
  • While using the bride wealth for the conduct of the marriage is a common practice, it does not directly address the compensation intent mentioned in the question. It pertains to the marriage ceremony itself rather than compensating the bride's family for their loss.
(E) Keep it for an emergency.
  • Keeping the bride wealth for an emergency may provide financial security to the bride's family, but it does not directly align with the compensation intent of the bride wealth system. It focuses on future contingencies rather than compensating for the loss of a young and productive member.
Considering the explanations above, the option that aligns with the compensation intent of the bride wealth system is (A) Put it in an interest-bearing account so that the family has a regular income in the form of interest.
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Irrespective of the general state of the economy, paying less for the same thing appeals to most consumers, who seem to have an intuitive dislike for inflation. But much as we may like to pay less, a sustained decline in prices, deflation, may not be in our best interests. Deflation, in fact, is considered to be a bigger evil than inflation, and evokes strong action by policymakers who would try everything possible to prop up prices. Deflation often results from a slowdown in which reduction in demand vis--vis supply causes prices to dip. With a sharp decline in prices, consumers tend to postpone purchases in the belief that prices will head further lower. This adds to the pressure on businesses, which in addition to a fall in prices also see an accumulation of inventory. Production cuts are hence resorted to, resulting in factory closures and consequent layoffs or salary cuts. With unemployment increasing, income levels in the economy fall, leading to further cuts in consumer spending and more pressure on prices. A vicious cycle emerges; the cascade effect is felt across sectors; and the economy goes into defeatist mode.To prevent deflations and to tackle the downward spiral caused by them, governments resort to large-scale spending, undertaking massive projects to increase employment, incomes, and prices and pumping in huge sums of money to propel demand. For instance, in the aftermath of the financial market crash in 2008, the US government undertook big-ticket stimulus measures and QE (quantitative easing) to revive the economy.However, not all dips in prices are bad. A fall in prices of goods and services due to technological innovations and increased competition could actually benefit both the consumers and the producers. Such a situation is very different from deflation, which affects prices across the economy on a sustained basis (mainly due to decreasing demand or liquidity problems) and which should indeed be considered a red flag.As per the passage, which of the following would most likely be considered a dip in prices beneficial to both the consumer and the producer?

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Igbo children generally stay with their parents until marriage, after which both husband and wife live together but apart from both their families. The Igbo people follow the bride wealth system. In contrast to dowry, which is a practice prevalent in most other societies, bride wealth is money and gifts given by the groom’s family to the bride’s family. Bride wealth is considered a way of compensating the bride’s family for the loss of a young and productive member.Which of the following is a use, which when bride wealth is put to, will make the compensation true to its intent, in the case of the Igbo people?a)Put it in an interest bearing account so that the family has a regular income in the form of interest.b)Use it to get a young wife for a member of the bride’s family.c)Use it to buy gifts for the bride.d)Use it for the conduct of the marriage.e)Keep it for an emergency.Correct answer is option 'A'. Can you explain this answer?
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Igbo children generally stay with their parents until marriage, after which both husband and wife live together but apart from both their families. The Igbo people follow the bride wealth system. In contrast to dowry, which is a practice prevalent in most other societies, bride wealth is money and gifts given by the groom’s family to the bride’s family. Bride wealth is considered a way of compensating the bride’s family for the loss of a young and productive member.Which of the following is a use, which when bride wealth is put to, will make the compensation true to its intent, in the case of the Igbo people?a)Put it in an interest bearing account so that the family has a regular income in the form of interest.b)Use it to get a young wife for a member of the bride’s family.c)Use it to buy gifts for the bride.d)Use it for the conduct of the marriage.e)Keep it for an emergency.Correct answer is option 'A'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Igbo children generally stay with their parents until marriage, after which both husband and wife live together but apart from both their families. The Igbo people follow the bride wealth system. In contrast to dowry, which is a practice prevalent in most other societies, bride wealth is money and gifts given by the groom’s family to the bride’s family. Bride wealth is considered a way of compensating the bride’s family for the loss of a young and productive member.Which of the following is a use, which when bride wealth is put to, will make the compensation true to its intent, in the case of the Igbo people?a)Put it in an interest bearing account so that the family has a regular income in the form of interest.b)Use it to get a young wife for a member of the bride’s family.c)Use it to buy gifts for the bride.d)Use it for the conduct of the marriage.e)Keep it for an emergency.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Igbo children generally stay with their parents until marriage, after which both husband and wife live together but apart from both their families. The Igbo people follow the bride wealth system. In contrast to dowry, which is a practice prevalent in most other societies, bride wealth is money and gifts given by the groom’s family to the bride’s family. Bride wealth is considered a way of compensating the bride’s family for the loss of a young and productive member.Which of the following is a use, which when bride wealth is put to, will make the compensation true to its intent, in the case of the Igbo people?a)Put it in an interest bearing account so that the family has a regular income in the form of interest.b)Use it to get a young wife for a member of the bride’s family.c)Use it to buy gifts for the bride.d)Use it for the conduct of the marriage.e)Keep it for an emergency.Correct answer is option 'A'. Can you explain this answer?.
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