The Traditional View of Technological Advance Was That It

question 72

Multiple Choice

The traditional view of technological advance was that it

• A) was a random external force to which the economy adjusted.
• B) arose largely from advances in military-related research.
• C) was the result of capitalism and the rivalry among firms.
• D) arose from international trade and the sharing of ideas among nations.

Analyze the distributive impacts of price and income support programs in agriculture.

Appreciate the economic rationale behind agricultural subsidies and their societal implications.

Understand the concept of parity in agricultural policy and its practical implications.

Examine the elasticity of demand for agricultural products and its effects on farming income.

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Definitions:

Loose Cultures

Social or organizational cultures characterized by a tolerance for deviance from norms and a flexibility in behavior and beliefs.

Central Life Interest

An individual's primary focus or commitment in life, which significantly influences their identity and actions.

Generation Y

Also known as Millennials, the demographic cohort following Generation X, typically considered to be born between the early 1980s and the mid-1990s to early 2000s.

Millennials

A generational cohort following Generation X, typically defined as people born from the early 1980s to the mid-1990s to early 2000s.