The Noun ____________________ Refers to an "Idea,practice,or Object That Is

question 13

Short Answer

The noun ____________________ refers to an "idea,practice,or object that is perceived as new by an individual or other unit adopting it."

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Definitions:

Price

The amount of money expected, required, or given in payment for something; it acts as a signal for scarcity or abundance of a product.

Budget Line

A depiction showcasing all feasible combinations of two articles that can be purchased, provided there's a fixed budget and the prices remain the same.

Money Income

Money income is the total income received by a household or individual in the form of currency or in transactions, excluding non-monetary benefits.