What Primary Role Does Technology Play in Economic Change and Development

question 4

Multiple Choice

What primary role does technology play in economic change and development?

• A) Technological innovations help companies produce more goods and services at a cheaper cost.
• B) Technology helps businesses communicate across the globe,building their networks.
• C) Technological inventions are sold faster and at higher prices than other kinds of goods.
• D) Technological innovations are particularly important for the move from agricultural to industrial societies,spurring initial economic growth.

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Definitions:

Total Charge

Total charge typically refers to the complete amount of fees, costs, or expenses that a customer is required to pay for a particular service or product.

Nonfinancial Rewards

Incentives other than money, such as recognition, training, or work-life balance improvements, offered to employees.

Personal Selling Process

A series of steps that a salesperson follows to engage potential buyers, understand their needs, make a sales presentation, address objections, and close the sale.

HVAC System

Heating, Ventilation, and Air Conditioning systems that manage the climate and air quality in buildings.