Identify What the Term Cooptation Means

question 85

Essay

Identify what the term cooptation means. Give an illustration of the concept and demonstrate how it applies to the movement of meaning as shown in the text.

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Definitions:

Good Substitutes

Products or services that can be used in place of each other, having a high cross-elasticity of demand.

Income Elasticity Coefficient

A measure indicating how much the quantity demanded of a good responds to change in consumer income.

Recessions

Periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in successive quarters.

Income Elasticity

A measure of how much the demand for a product or service changes in response to changes in consumer income.