Which of the Following Was NOT Identified as a Phase

question 33

Multiple Choice

Which of the following was NOT identified as a phase of convergence in the evolution of cybercrime?

• A) Technology is separate from people.
• B) Man is using technology.
• C) Technology replaces people.
• D) Technology takes over the world.

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Definitions:

Substitution Effect

The substitution effect occurs when consumers replace pricier goods with cheaper alternatives as prices change, reflecting changes in consumption patterns due to relative price differences.

Diminishing Marginal Utility

The principle that as a person consumes more of a good, the additional satisfaction gained from consuming an additional unit of the good decreases.

Limited Budget

A financial plan that is constrained by a limited amount of resources, requiring prioritization and careful management.

Utility Maximization

The economic principle whereby individuals or firms seek to allocate their resources in a way that maximizes their satisfaction or utility.