_____ Is a Form of Short-Range Communications That Employs Extremely

question 22

Short Answer

_____ is a form of short-range communications that employs extremely short electromagnetic pulses lasting just 50 to 1,000 picoseconds that are transmitted across a broad range of radio frequencies of several gigahertz.

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Definitions:

Normal Profit

The level of profit that is just sufficient to keep an entrepreneur in business, equaling total revenues minus explicit and implicit costs.

Price System

An economic mechanism wherein prices are determined by the interaction of supply and demand, guiding the allocation of resources and distribution of goods and services.

Scarce Goods

Items that are limited in availability relative to the desires or needs of consumers.

Laissez-Faire Economy

Literally from the French: “allow [them] to do.” An economy in which individual people and firms pursue their own self-interest without any central direction or regulation.