Creativity and innovation both contribute to applied practice.
Explanation:
Creativity refers to the way in which new ideas related to a particular item is brought in reality. Innovation refers to the way of implementing the new idea that was not recognized before. The items are unique in nature.
Creativity deals with new ideas as well as different possibilities that are used to solve problems as well as helps in communicating with others. Creativity also helps in entertainment purpose. These are the ways where innovation and creativity contribute to applied practice.
It should be noted that the study of how resources are distributed for production of goods and services within a social system is called Economics.
<h3>What is Economics?</h3>
Economics can be regarded as a social science which focus on the study of production as well as distribution, and consumption of goods as well as services.
Therefore, economics focus on how resources are distributed for production of goods.
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Answer:
The CPI for the given year is 123.
Explanation:
Consumer price index (CPI)
In the base year, the typical family bought 4 loaves of bread at $2 per loaf and 2 bottles of wine for $ 9 per bottle.
Cost at base year =$[(4×2)+(2×9)]
=$26
In a given year, bread cost $3 per loaf and wine cost $10 per bottle.
Cost at given year =$[(4×3)+(2×10)]
=$32
The CPI for the given year is
≈123
Lisa agrees to sell Deb an electronic entertainment center worth $1,000 for $700 in order to have a rapid sale. Later Lisa insists that she may rescind this agreement since the agreed price was 30% below fair market value. Lisa may not rescind since Lisa and Debbie freely agreed.
A trade show for the video game industry is called E3. For the purpose of introducing and publicizing new games and game-related items to retailers and the media, the Entertainment Software Association organizes and presents E3, which is attended by a large number of developers, publishers, hardware, and accessory makers.
Internet-based entertainment that a user can view or hear: We anticipate that increased access to broadband will open up e-commerce and entertainment to everyone.
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