Which of the Following Policies Would Increase fiRms' Adaptability to Technological

question 32

Multiple Choice

Which of the following policies would increase firms' adaptability to technological developments in the economy?

• A) Reducing the level of redundancy payments to workers.
• B) Increasing the size of the labour force in the economy.
• C) Providing tax breaks for research and development.
• D) Strengthening trade unions through legislation.

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Definitions:

Product Development

The complete process of bringing a new product to market, from concept through design, development, and marketing.

Persuasive Advertising

Advertising aimed at convincing consumers to purchase a product or service through appeals to emotions or logic.

Monopoly Power

The ability of a single seller to control market prices and exclude competitors within a particular market.

Product Differentiation

A marketing strategy that businesses use to distinguish their products from those of competitors, based on attributes like quality, design, or features.