The Current Impetus to Innovate Comes from the Need to ____________________________

question 68

Multiple Choice

The current impetus to innovate comes from the need to ____________________________.

• A) to cut time while still creating a competitive advantage
• B) to cut costs, while still destroying a competitive advantage
• C) to cut costs, while still creating a competitive advantage
• D) to increase costs, while still creating a competitive advantage

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Definitions:

Market Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output of the good all suppliers are willing and able to produce, holding other factors constant.

Supply Reduction

Actions or policies designed to decrease the amount of goods or services available in the market.

Minimum Wage Laws

Regulations established by governments that set the lowest hourly wage rate that employers can legally pay their workers.

Employers

Employers are individuals or organizations that hire and pay people to perform specific jobs.