_________________________ Is the Deliberate Application or Modification of an Existing

question 39

Multiple Choice

_________________________ is the deliberate application or modification of an existing idea,method or device.

• A)Acculturation
• B)Assimilation
• C)Adaptation
• D)Primary innovation
• E)Secondary innovation

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where demand equals supply.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or commodity.

Gallon

A unit of measurement for volume, primarily used in the United States, equal to 128 fluid ounces, or approximately 3.785 liters.

Quantity Supplied

Quantity Supplied is the amount of a good or service that producers are willing and able to offer for sale at a particular price over a given period.