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The Process of Converting a Message into a Symbolic Form

question 49

Multiple Choice

The process of converting a message into a symbolic form so that it is properly understood by the receiver is called _____.


Definitions:

Surplus

An excess of production or supply over demand, often leading to a decrease in prices.

Shortage

A situation where the demand for a product exceeds the available supply, often leading to higher prices.

Equilibrium

The state in which market supply and demand balance each other, and as a result, prices become stable.

Shortage

A situation in which the demand for a product or service exceeds the available supply, often leading to higher prices or unmet demand in the market.

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