Something That Is Old Can Also Be Considered an Innovation

question 45

Multiple Choice

Something that is old can also be considered an innovation if it

• A) is especially appealing for nostalgia.
• B) is especially appealing because it is a sacred object.
• C) becomes a gift.
• D) serves as a product that fulfills basic needs.
• E) is introduced to a new market segment.

Comprehend how the price elasticity of demand for a good affects the efficacy of a tax in discouraging consumption.

Recognize the relationship between the price elasticity of demand and tax revenue generation.

Identify when a tax on goods is likely to be effective in both reducing consumption and generating revenue.

Understand that the impact of a tax on consumption can depend on the availability of substitutes.

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Definitions:

Zinc

A metallic chemical element with the symbol Zn and atomic number 30, essential for human health and used in a variety of applications.

Copper

A reddish-brown metallic element that is ductile and malleable, widely used in electrical wiring, plumbing, and the creation of alloys.

Eudicot Root

The root system of a eudicotyledonous plant, characterized by a main taproot with branching lateral roots.

Pith

The soft or spongy tissue in the center of stems in vascular plants, involved in storage and transport of nutrients.