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The price of Y is $10.
-If the price of X is $5, what combination of X and Y will a utility-maximizing consumer choose?
Social Change
The alteration over time in behavior patterns, cultural values, and norms of a society.
Cultural Diffusion
The process by which cultural beliefs, practices, and items spread from one society or culture to another.
Technological Determinism
The theory that technology is the principal factor driving societal changes and shaping societal structure and cultural values.
Globalization
The cultural and economic changes resulting from dramatically increased international trade and exchange in the late twentieth and early twenty-first centuries.
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