Over the Past Decade Technological Improvements That Have Lowered the Cost

question 219

Multiple Choice

Over the past decade technological improvements that have lowered the cost of producing an automobile have increased

• A) the supply but not the demand for automobiles.
• B) neither the supply nor the demand for automobiles.
• C) the demand but not the supply of automobiles.
• D) both the supply and the demand for automobiles.

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Definitions:

Mobile Device

A portable computing device such as a smartphone or tablet, which has wireless internet connectivity.

Internet of Things

An interconnected system of tangible items equipped with monitoring devices, computer programs, and various technologies designed to communicate and share information with other gadgets and systems via the web.

IoT

Internet of Things, a network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity, enabling these objects to connect and exchange data.

Dematerialization

The process of reducing the use of physical resources in the production and consumption of goods and services, often through digital means.