Classify the Following Definition According to Its Use: to Reduce

question 164

Short Answer

Classify the following definition according to its use: to reduce vagueness, to introduce or explain a new or unusual word, to evoke an attitude about something, or to accomplish some other purpose.
A precising definition is used to reduce vagueness.

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Definitions:

Production Possibility Frontier

A graph that shows the maximum possible output combinations of two goods or services an economy can achieve when using all available resources efficiently.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.

Quantity Demanded

The overall quantity of a good or service buyers intend and can afford to acquire at an established price.

Substitutes

Products or services that can be used in place of each other, offering consumers choices in the marketplace.