Technological Developments Have a Direct Impact on Creating and Maintaining

question 44

True/False

Technological developments have a direct impact on creating and maintaining a marketing mix.

Understand the basic concepts of probability and how it applies to investment decisions.

Learn how to calculate expected values and understand their significance in economic decisions.

Understand the concept of variance and standard deviation as measures of risk.

Distinguish between different types of risks and their measurement.

---

Definitions:

Capital Goods

Physical assets that a company uses in the production process to manufacture products and services that consumers will later use.

Opportunity Cost

Giving up possible benefits from other solutions when a single solution is chosen.

Economic Growth

The increase in the inflation-adjusted market value of the goods and services produced by an economy over a period of time.

Entrepreneurship

The act of creating, organizing, and running a new business venture, typically characterized by risk-taking and innovation to achieve profit and growth.