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Describe the processes of assimilation,accommodation,and contrast and explain whether you think assimilation,accommodation,or contrast will occur in each of the following situations:
a.A consumer picks up an unfamiliar piece of fruit that looks like a tiny orange,but it is about the size of a walnut instead of the size of a typical orange. The skin appears to be the same as an orange and it smells like an orange.
b.A consumer sees a vehicle like the car they drive.
c.A consumer sees a vehicle with two people in it flying 18 inches above the ground.
Resources Employed
Refers to the allocation and utilization of resources such as labor, capital, and materials to produce goods and services.
Output of Industry
The total amount of goods and services produced by an industry or sector within a specific period, often used to gauge economic health and productivity.
Economic Profit
The difference between total revenues and total costs, taking both explicit and implicit costs into account, indicating the additional income over the opportunity cost of capital.
Industry Z
An unspecified sector of the economy, used as a placeholder to discuss economic concepts without specifying an industry.
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