Firms Innovate Because

question 20

Multiple Choice

Firms innovate because

• A)the human race is naturally inventive.
• B)competitive advantages tend to erode over time - so new ones need to be found.
• C)consumers are always looking for the next new gadget.
• D)it gets boring doing the same old things.

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Definitions:

The Bell Curve

A controversial book by Richard J. Herrnstein and Charles Murray that argued intelligence is a significant predictor of personal outcomes like economic success or failure, and discussed the implications of intelligence quotient (IQ) differences between races.

IQ Scores

Numerical values derived from standardized tests designed to measure human intelligence and cognitive abilities.

Racial Differences

Variations in physical characteristics, cultural practices, and social experiences based on racial identification.

Genetically Driven

Traits, behaviors, or characteristics determined primarily by an individual's genetic make-up rather than environmental factors.