The Word Processor Brought More Perceived Value to the Market

question 76

Multiple Choice

The word processor brought more perceived value to the market and replaced the typewriter as the industry standard.Later,the word processor industry was undone by the computer industry which created even more value.This is an example of:

• A) The "ups and downs" of an economic cycle.
• B) A shortened industry life cycle.
• C) The positive and negative aspects of creative destruction.
• D) The effects of diversification.

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Definitions:

Carnations

A type of flower known for its distinct fragrance and variety of colors, commonly used in arrangements and bouquets.

Tariff

A tax imposed by a government on imported or exported goods to regulate trade and protect domestic industries.

Imports

Goods and services bought by residents of a country from foreign producers, representing an inflow of goods into the country.

Free Trade

An economic policy allowing unrestricted import and export of goods between countries without the imposition of tariffs, quotas, or other restrictions.