Examlex

Solved

Identify a Technological Innovation from the Last 100 Years

question 50

Essay

Identify a technological innovation from the last 100 years.What was its intended purpose? What were or are some of its unintended consequences?


Definitions:

Purely Competitive Conditions

Market situations in which a large number of firms produce identical products, and there is no single seller who can influence the market price.

Profit-maximizing Equilibrium

A state in which a firm achieves the highest possible profit, given its production costs and market conditions.

Appliance Manufacturer

A company that produces electrical machines and devices for domestic use.

Related Questions