In the Absence of Technological Progress,an Increase in the Saving

question 38

Multiple Choice

In the absence of technological progress,an increase in the saving rate will cause which of the following?

• A)increase temporarily the growth of output per worker
• B)increase the steady state growth of output per worker
• C)decrease temporarily the growth of output per worker
• D)decrease the steady state growth of output per worker
• E) have an ambiguous effect on the growth of output per worker

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Definitions:

Market Orientation

A business philosophy where the focus is on identifying and meeting the needs and wants of customers through product innovation and customer satisfaction.

Natural Monopolies

A market structure where a single firm can provide a good or service to an entire market at a lower cost than if there were multiple firms due to economies of scale.

ROI

Return on Investment, a performance measure used to evaluate the efficiency or profitability of an investment.

Marketing Concept

A business philosophy suggesting that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target markets.