The Term "Relative Advantage" Describes the Degree to Which the Innovation

question 39

True/False

The term "relative advantage" describes the degree to which the innovation appears superior to existing products in the marketplace.

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Definitions:

Open Market Sale

The selling of government bonds and securities in the open market to decrease the money supply.

Money Supply

The whole of economic resources in an economy, represented by cash, coins, and checking and savings accounts' balances, at a given time.

Excess Reserves

Excess reserves refer to the capital reserves held by a bank or financial institution in excess of what is required by regulations, guidelines, or central bank requirements.

Individual Bank

A financial institution that deals with consumers and businesses to offer deposit, loan, and investment services on an individual basis.