A trade deficit occurs when a country's imports exceed its exports during a given time period. It is also referred to as a negative balance of trade (BOT). The balance can be calculated on different categories of transactions.
Answer:
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Explanation:
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Answer:
<h2>Cultural lag </h2>
Explanation:
Cultural lag is the notion that culture takes time to catch up with the technological innovation and it causes various social conflicts and problems. It is helpful in explaining and identifying social problems to predict the future problems.
This term was first coined in 1922 by sociologist William F. Ogburn, according to him cultural lag occurs due to the tendency of material culture to change and evolve quickly while non material culture remains fixed and resists change. Due to these opposing aspects of culture accepting new technology becomes difficult.
