Time Zones Are Established Roughly Every 15 Degrees Longitude So

question 79

True/False

Time zones are established roughly every 15 degrees longitude so that local times correspond to similar hours of day and night.

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Definitions:

Relatively Inelastic

Describes a situation where the demand for a good or service only slightly changes in response to price changes.

Relatively Elastic

A description of a situation where the demand for a good or service significantly changes in response to a change in price.

Excise Tax

A tax on the sale or production for sale of specific goods within a country, typically on commodities like alcohol and tobacco.

Specific Items

Goods or commodities that are distinctly identified and provided in a market or contract.