Examlex
For many years short wave radios were a way of getting news from faraway places and in difficult conditions. But as new technologies have spread, the people listening to these devices has decreased. (Source: The Economist, July 7, 2012) As new technology creates substitutes for short-wave radios, the demand for short-wave radios ________ and the consumer surplus from short-wave radios ________.
UCC
Refers to the Uniform Commercial Code, a complete collection of regulations that oversee every commercial transaction in the United States.
Manufacturer
An entity or individual that makes goods through a process involving raw materials, machinery, and labor.
Shipment
The process of transporting goods from one location to another.
Counteroffer
A proposal made in response to an original offer, changing its terms in the hopes of reaching an agreement.
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