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A Potlach is a ceremonial feast, common with the Northwest Native American tribes, wherein possessions were given away or destroyed by the wealthy tribespeople in a show of their opulence and wealth.
Answer:
Columbian Exchange
Explanation:
The Columbian Exchange refers to the period where there was a widespread transfer of plants, animals and culture between the Americas and Europe.
This exchange was named because of Christopher Columbus who was the Spaniard who first arrived to the Americas (while trying to find a new route from Spain to India) and started the maritime route from Europe to the Americans, starting a process of exchange of plants and animals among other things.
This exchange took place mainly during the 15th and 16th centuries.
Price elasticity is the measure of change in the demand of quantity to the price change.
<u>EXPLANATION: </u>
Price Elasticity can be divided as elastic, inelastic and unitary, depending on the relation between quantity and price.
Elastic demand: When the demand changes but is greater than the change in price, then the product is elasticity in nature. The goods that are not of basic necessity are usually elastic.
In-elastic demand: When the demand change is lower than the change in price, then the product is in inelastic demand. Products that are of basic necessity are inelastic ones.
Unitary demand: A product is in unitary demand when the price change doesn't change the product's demand. An example of Unitary demand is medicines.