In Taxonomy, Family Is a More General Term Than Order

question 59

True/False

In taxonomy, family is a more general term than order.

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Definitions:

Income Elasticity

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

Mobile Service

A service provided by telecommunications companies that allows for voice, text, and data communication over mobile devices.

Midpoint Method

A technique used in economics for calculating elasticity by taking the average of the starting and ending prices and quantities to find a percentage change.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting the product's sensitivity to price changes.