Every year, Americans gather on July 4th to celebrate Independence Day. Parades, fireworks, and hot dogs are all part of this annual ritual. What particular component of ethnicity is embodied in this celebration?

Answer: It is called Origin myth

Explanation:

An origin myth is a myth that claims to describe the origin of some feature of the natural or social world. One kind of origin myth is the cosmogonic myth, which describes the creation of the world. However, many cultures have stories set after the cosmogonic myth, which describe the origin of natural phenomena and human institutions within a preexisting universe.