All living organisms have ways of maintaining homeostasis. They have mechanisms for controlling such factors as their internal temperature, water balance, and acidity. Homeostasis is necessary for normal life processes that take place inside cells.
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Definition:
Taxonomy - The science of addressing, describing and classifying organisms (plants, animals and microorganisms of the world).
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For normal goods, the income effect and the substitution effect both work in the same direction; a decrease in the relative price of the good will increase quantity demanded both because the good is now cheaper than substitute goods, and because the lower price means that consumers have a greater total purchasing power.
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