Hierarchically Structured Categories Range from ____ as the Broadest to ____

question 12

Multiple Choice

Hierarchically structured categories range from ____ as the broadest to ____ in the middle to ____ as the finest level of categorization.

• A) subordinate / basic / superordinate
• B) basic / subordinate / superordinate
• C) basic / superordinate / subordinate
• D) superordinate / subordinate / basic
• E) superordinate / basic / subordinate

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Definitions:

Consumption Declines

A decrease in the amount of goods and services purchased and consumed by individuals or households.

Perfectly Elastic

Describes a situation in economic theory where the quantity demanded or supplied changes infinitely in response to any change in price.

Tax

An enforced economic levy or different levy applied to a taxpayer by a governmental agency intended to provide for government spending and multiple public outlays.

Perfectly Inelastic Supply

Perfectly Inelastic Supply describes a situation in which the quantity supplied of a good does not change regardless of price movements.