Technological Substitution Occurs When

question 85

Multiple Choice

Technological substitution occurs when:

• A) customers establish a new technological standard or dominant design.
• B) customers purchase new products to replace older technologies.
• C) a new dominant design prevents a company from competitively selling its products.
• D) a new technological design or process becomes the accepted market standard.

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Definitions:

Ratio

A quantitative relationship between two numbers, showing how many times one value contains or is contained within the other.

Reliability

The degree to which an assessment tool produces stable and consistent results over time.

Predictive

Relating to the ability to forecast future events, trends, or behaviors based on current or past data.

Correlation Scores

Numerical measures that indicate the extent to which two variables fluctuate together.