New Markets Created by IPods, PDAs, and Wi-Fi Are a Result

question 65

Multiple Choice

New markets created by iPods, PDAs, and Wi-Fi are a result of:

• A) disruptive technologies.
• B) global competition.
• C) knowledge intensity.
• D) hypercompetition.

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Definitions:

Aggregate Spending

The total spending on goods and services in an economy at a given overall price level and in a given time period.

Marginal Propensity

The ratio of change in an economic variable, such as consumption or saving, to a change in another, like income.

Consumption Spending

The total amount of money spent by households and consumers on durable goods, nondurable goods, and services.

Income

Money received, especially on a regular basis, by an individual or business in exchange for providing labor, goods, or services, or through investing.