In Many High-Tech Industries in the Economy, Such as Computers

question 70

Multiple Choice

In many high-tech industries in the economy, such as computers, medical equipment, and automobiles,

• A)price competition is utilized by firms more than innovation to compete with rivals.
• B)firms compete on the basis of innovation only; never engaging in price competition.
• C)innovation is utilized by firms to compete with rivals more than price competition.
• D)firms use price competition only; never engaging in innovation to compete with rivals.
• E)firms utilize innovation and price competition equally to compete with rivals.

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Definitions:

Piaget

A psychologist known for his pioneering work in child development, specifically for his theory of cognitive development that describes how children construct a mental model of the world.

Seriation

The ability to arrange objects in order by size, location, or another characteristic, which is a crucial cognitive development skill in children.

Cognitive Abilities

Mental skills encompassing learning, thinking, reasoning, problem-solving, decision-making, and memory.

Hands-on

Involving active engagement and direct experience in learning or doing something, rather than just theory.