When ____________ (Acceptance)occurs,a Process of Social Change May Also Occur

question 35

Multiple Choice

When ____________ (acceptance) occurs,a process of social change may also occur.

• A)product replacement
• B)product abandonment
• C)product innovation
• D)product diffusion
• E)product acceleration

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Definitions:

Unconsummated Transaction

A deal or negotiation that has been discussed or agreed upon in principle but has not been finalized or completed.

Sales Tax

a tax imposed on sales of goods and services, typically calculated as a percentage of the purchase price.

Buyer Surplus

The difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount paid.

Seller Surplus

The difference between the amount sellers are actually paid for a good or service and the minimum amount they would be willing to accept, reflecting gains from trade.