In Some Cases, Prices Are Assigned to Goods on the Basis

question 190

True/False

In some cases, prices are assigned to goods on the basis of nothing more than custom.

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Definitions:

Isostatic Adjustment

The equilibrium adjustment of the Earth's crust due to changes in load (such as the melting of glaciers), affecting the crust's vertical movement.

Significant Erosion

The process whereby soil, rock, and other surface material are removed from one location and transported elsewhere, typically by wind, water, or ice, in a manner that noticeably alters the landscape.

Mountain

A natural elevation of the Earth's surface rising significantly above the surrounding landscape, often formed through tectonic forces or volcanism.

Uplifted

Refers to regions of the Earth’s crust that have been raised vertically, often due to tectonic processes.