Technological Improvements Are Similar to International Trade Since They Both

question 34

Multiple Choice

Technological improvements are similar to international trade since they both:

• A) Provide benefits for all producers and consumers
• B) Increase the nation's aggregate income
• C) Reduce unemployment for all domestic workers
• D) Ensure that industries can operate at less than full capacity

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Definitions:

Synergy

The increased effectiveness that results when individuals, groups, or systems work together compared to when they operate separately.

Design a New Product

The process of creating a novel item or service that fulfills a specific consumer need or addresses a particular market niche.

Norming Stage

A stage in team development where members resolve conflicts, establish norms, and foster unity.

Cohesiveness

The degree to which members of a group or team are attracted to each other and motivated to stay in the group.