Which of the Following Statements Is True of Technological Lockout

question 80

Multiple Choice

Which of the following statements is true of technological lockout?

• A) It occurs when customers purchase new technologies to replace older technologies.
• B) It occurs when a new dominant design prevents a company from competitively selling its products.
• C) It occurs when companies innovate by improving the functioning and performance of the existing dominant design.
• D) It occurs when new technologies compete to establish a new technological standard.

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Definitions:

World Price

The internationally determined price of a good or service, influenced by global supply and demand factors.

Import or Export

Imports are goods and services brought into a country from abroad for sale, while exports are goods and services produced domestically and sold to foreign countries.

World Price

A product or service's worldwide market value, affected by the international balance of supply and demand.

Importer or Exporter

An entity that buys goods and services from a foreign country (importer) or sells them to a foreign country (exporter).