Cell Phone Technology Is Replacing Traditional Wired Phone Technology

question 47

Multiple Choice

Cell phone technology is replacing traditional wired phone technology. This is an example of a(n) :

• A) first-mover advantage.
• B) technological paradigm shift.
• C) format war.
• D) complementary product.
• E) embryonic industry.

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Definitions:

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targeted goals and objectives.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including services and facilities necessary for its economy to function.

Real Income

The income of individuals or nations after adjusting for inflation, representing the actual purchasing power over goods and services.

Per Capita

A statistical measure expressed as a total divided by the number of individuals in the population, often used for comparison purposes.