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In a Small-Scale Society,the Power of Advisors Who Settle Disputes

question 12

Multiple Choice

In a small-scale society,the power of advisors who settle disputes is based on which of the following?


Definitions:

DVD Players

Electronic devices designed to play discs in the DVD format, capable of producing both sound and video from digital optical disc storage.

Income Elasticity

A measure of how much the demand for a product or service changes relative to a change in consumers' income levels.

Normal Good

A good for which demand increases as the income of consumers increases and decreases as the income of consumers decreases.

Price Elastic

Pertains to a measurement in economics of how responsive an economic variable's quantity is to a change in its price.

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