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New and Improved Technologies Rapidly Create and Support Substitutes for Products

question 129

Multiple Choice

New and improved technologies rapidly create and support substitutes for products, alternative service options, and superb quality. This is an example of ________ pressures.


Definitions:

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Savings Account

A deposit account held at a bank or financial institution that provides principal security and a modest interest rate.

Interest Rate

The percentage of a sum of money charged for its use, often expressed annually.

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