An Example of a Temporary Change in Technology Would Be

question 53

Multiple Choice

An example of a temporary change in technology would be:

• A)a new discovery.
• B)a new invention.
• C)a harvest failure.
• D)all of the above.

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Definitions:

Economic Perspective

The viewpoint from which economic analysts assess and interpret the workings of economic systems and the behavior of economic agents.

Foreign Competition

The competition that domestic companies face from products and services produced in other countries.

Adam Smith

A Scottish economist and philosopher known as the father of modern economics, famous for his work "The Wealth of Nations."

David Ricardo

David Ricardo was a British political economist best known for his theories on comparative advantage, which describe how nations can benefit from trading.