Diffusion Can Occur Without Acculturation

question 44

True/False

Diffusion can occur without acculturation.

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Definitions:

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Imposes a Quota

A restriction, set by a government, on the maximum number of units of a particular product that can be imported or exported within a given period.

Equilibrium

A market condition where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Quota Rent

The earned income by holders of a production or import quota, representing the difference between domestic and world prices of a good.