"Computers Are Outdated After Three Years and Obsolete After Five

question 61

Multiple Choice

"Computers are outdated after three years and obsolete after five." What aspect of technology does that statement BEST represent?

• A) Technological innovations can be used to keep a company well-organized.
• B) Technological innovation is changing the focus of how many businesses are run.
• C) Technological innovation can help streamline businesses and cut costs.
• D) Technological innovation is necessary in order to remain competitive.
• E) Technological innovation is expensive and time-consuming.

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Definitions:

Typical Question

A common or standard inquiry that is often asked in various contexts to gather information or clarify understanding.

Consumer Surplus

The difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount they do pay.

Tax

A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures.

Deadweight Loss

The economic efficiency is lessened when a good or service does not attain its equilibrium in the free market.