Technological Advances

question 58

Multiple Choice

Technological advances

• A) rarely result in an increase in productivity.
• B) always involve buying lots of expensive equipment.
• C) introduce new techniques or methods so that firms can produce more with less.
• D) are equally common across all firms.
• E) are always the result of private-sector innovation.

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Definitions:

Liability Exists

A condition where legal responsibility for damages or obligations is present and enforceable by law.

Without Substantial Change

This entails maintaining the primary essence or core of something while possibly making minimal adjustments that do not significantly alter its nature or function.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, resulting in harm or damage.

Misrepresentation

A false statement of fact by one party to another party, which induces that other party to enter into a contract.