Technological Advances Allow for More ______ Among Institutions and People

question 24

Multiple Choice

Technological advances allow for more ______ among institutions and people and machines.

• A)interconnectedness
• B)relationships
• C)independence
• D)dependence

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Definitions:

Differentiated

Characterized by the process of distinguishing a product or service from others, to make it more attractive to a particular target market.

Oligopoly

A market structure characterized by a small number of large firms dominating an industry, often resulting in limited competition.

Large Producers

Entities that produce goods or services at a high volume, often dominating the market or industry sector they operate within.

Pure Competition

A term synonymous with purely competitive industry, denoting a market scenario where numerous firms offer identical products, ensuring no singular entity can control the market price.