According to the Porter Diamond,which of the Following Is an Example

question 79

Multiple Choice

According to the Porter diamond,which of the following is an example of an advanced factor?

• A) labor forces in the nation
• B) technological infrastructure in the nation
• C) climate in the nation
• D) natural resources in the nation

---

Definitions:

Innovation Lagged

A situation where there is a delay or time lag between the development of a new technology or idea and its implementation or widespread use.

Production Targets

Specific goals set for the quantity of products to be produced within a certain time frame.

Invisible Hand

A concept introduced by Adam Smith to describe the self-regulating nature of the market, where individual self-interests unintentionally benefit the economy as a whole.

Market Failures

Circumstances where a free market's distribution of goods and services is inefficient, frequently warranting the involvement of the government.