During the "Computer Revolution" of the 1980s and 1990s,many Firms

question 88

Essay

During the "computer revolution" of the 1980s and 1990s,many firms replaced old technology with new technology.What might explain why firms don't change technology as quickly today?

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Definitions:

Inventory

The raw materials, work-in-progress products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Gross Domestic Product (GDP)

A measure of the total economic production of a country, representing the total value of all goods and services produced over a specific time period.

Investment

The process of distributing funds with the aim of earning revenue or gains.

Imports

Goods or services brought into a country from abroad for sale, typically requiring payment to the origin country or entity.