One Advantage of Developing Technology Within Your Own Company Is

question 45

Multiple Choice

One advantage of developing technology within your own company is

• A) Optimal utilization of your resources.
• B) Cost efficiencies.
• C) Keeping the technology exclusive to the organization.
• D) Being allowed to hire more people.
• E) Being able to take plenty of time to develop a product right.

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Definitions:

Competitive Market

A market situation where numerous sellers and buyers exist, and where each has a negligible impact on the market price.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded in a market.

Equilibrium Quantity

At the market equilibrium price, the amount of goods or services that are supplied matches the amount that is demanded.

Equilibrium Price

The market price at which the quantity demanded of a good equals the quantity supplied, leading to a state of balance in the market.