Related to the Economics in Practice on Page 25: How

question 189

Multiple Choice

Related to the Economics in Practice on page 25: How did the introduction of the microwave oven in 1960 affect the market for frozen food?

• A) It encouraged people to leave the work force by making cooking easier and less time-consuming.
• B) It reduced the opportunity cost of eating frozen food by decreasing the amount of time required to prepare frozen meals.
• C) It increased the financial cost of alternative methods of food preparation, such as conventional ovens.
• D) It made frozen foods more appealing by increasing the variety of meals that could be frozen and reheated.

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Definitions:

Teleconferencing

The use of telecommunications technology to facilitate meetings or discussions among participants in different locations.

Unique Attitude

A distinctive perspective or way of thinking that sets an individual apart from others.

Cultural Competency

An appreciation for cultural differences that affect communication and the ability to adjust one’s communication style to ensure that efforts to send and receive messages across cultural boundaries are successful.

Market Share

The portion of a market controlled by a particular company or product.