Toffler Coined the Term ______ to Describe the Confusion Resulting

question 89

Multiple Choice

Toffler coined the term ______ to describe the confusion resulting from rapid scientific and technological changes that unravel our traditional values and beliefs.

• A)anomie
• B)future shock
• C)cultural lag
• D)technophrenia

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Definitions:

Oligopoly

Defines a market structure characterized by a small number of firms dominating the market, leading to limited competition.

Brand Loyalty

Occurs when a consumer buys the same brand’s product or service repeatedly over time rather than buying from multiple suppliers within the same category.

Demand Curve

Represents a graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices, usually downward sloping.

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a ratio.