Give an Example of Technological Innovation and the Emergence of New

question 54

Essay

Give an example of technological innovation and the emergence of new ideas as causes of social change,and give possible examples of the three stages of social movements that would follow.

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Definitions:

Law of Demand

The economic principle that, all else being equal, there is an inverse relationship between the price of a good and the quantity demanded.

Other-Things-Equal Assumption

The assumption that factors other than those being considered are held constant. Also known as the ceteris paribus assumption.

Supply

The total amount of a specific good or service that is available to consumers at current prices.

Excise Tax

A tax imposed on specific goods, services, or activities, such as tobacco, alcohol, and fuel, usually intended to discourage their use or generate revenue.