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Alla [95]
3 years ago
5

How does technological change affect industry evolution? And how should firms manage product adoption and diffusion?

Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
7 0

Answer:

How does technological change affect industry evolution?

Technological change greatly affects industry evolution. It is perhaps the most important factor in industry evolution, because technological advancements create new industries, and cause the death of other industries.

For example, the telephone industry replaced the telegraph industry, and the internet has made many technologies obsolete.

And how should firms manage product adoption and diffusion?

Firms should manage product adoption and diffusion in a strategic matter. Firms should look for new products with some anticipation in other to make a profit on customer and technological trends. Firms should also establish when to discard old products that are becoming obsolete in the market.

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Which method would interest groups most likely use to help shape public policy? enacting regulations to enforce their goals hiri
mars1129 [50]

The method that the interest groups need to use to help shape public policy is by enacting regulations to enforce their goals.

<h3>What does enacting laws implies?</h3>

To enact a regulation means that a person or a group set up a legal and authoritative act or they made their goals into law.

Therefore, The method that the interest groups need to use to help shape public policy is by enacting regulations to enforce their goals.

Learn more about  interest groups from

brainly.com/question/14363531

#SPJ1

8 0
2 years ago
The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy
Ray Of Light [21]

Answer:

Consumer Sovereignty

Explanation:

Consumer sovereignty in production refers to the controlling power of consumers and that the production of goods and services is determined by the consumers' demand.

In the given scenario, The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy, and hence this statement best describes the concept of Consumer Sovereignty

8 0
3 years ago
Describe about comparative cost and absolute advantages of international trade​
zzz [600]

Answer:

Here's what I know.

Explanation:

Comparative cost talks about the difference or similarities in cost between two or more prices of good or services.

The advantages of international trade are...

1. It creates harmony between countries.

2. It encourages countries to manufacture their own products.

3. It is a source or income/revenue to the producing countries.

4. It is a good employment opportunity.

5. It improves a country's standard of living.

Hope these help... ♥

4 0
3 years ago
Joy is taking out a car loan which she’ll pay back with interest. Which option will require her to pay the lowest amount in inte
Mice21 [21]
Lowest amount of interest would be annual compounding.
6 0
3 years ago
Jose goes to an all-you-can-eat buffet at a Chinese restaurant and consumes three plates of food. He does not go back for a four
kkurt [141]

Answer:

The marginal utility of the fourth plate is zero or below zero

Explanation:

The reason is that the law of diminishing marginal utility says that the marginal utility of a product declines upon continuous consumption of that item. This means that the utility before the consumption of first buffet was high and when the second buffet was consumed by the same person the utility was further reduced and so on. This means that the utility must be positive which if is higher enough then the customer is will to pay and eat the buffet again. If it is zero or below zero the customer is not willing to pay for the buffet. This is the reason the person doesn't ordered the item again.

You can not eat the same buffet for all the 365 days. This means the taste of a tasty food fades away after some time or I would say that the utility is gone. Same is the case when you will keep using cellphone for a period and then sell it or dispose it because the item doesn't entertains you or in other words the utility has significantly fallen and is almost zero or below zero.

5 0
3 years ago
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