Most Available Evidence Suggests That the U

question 3

Multiple Choice

Most available evidence suggests that the U.S.technological lead over other countries is

• A) widening.
• B) narrowing.
• C) the same as it has been since 1900.
• D) negative (below other countries).
• E) nonexistent; Japan and West Germany have caught up with it.

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Definitions:

Substitute Product Offerings

Products or services that a consumer might buy to satisfy the same basic need or want as another product.

Barriers To Entry

Factors that make it difficult for new firms to enter a market, such as high startup costs, strict regulations, or strong brand loyalty for existing products.

Industry Growth

The rate at which a specific industry expands its capacity, production, or market size over a period.

Buyer Power

The influence and negotiating power that consumers or purchasing agents have over sellers in an economic marketplace.