When Economists View Technological Change as Internal to the Economy

question 80

Multiple Choice

When economists view technological change as internal to the economy, they mean that it

• A) occurs randomly.
• B) occurs accidentally.
• C) arises deliberately from the profit motive and competition.
• D) arises mainly from government subsidies.

---

Definitions:

Lifetime Value

The predicted net profit attributed to the entire future relationship with a customer.

Share of Customer

The portion of a customer's spending within a specific category that goes to a particular company.

Financial Incentives

Monetary rewards offered to influence the behavior or decisions of individuals or organizations, such as bonuses, discounts, or subsidies.

Customer Relationships

The ongoing interactions between a company and its customers designed to foster loyalty, engagement, and satisfaction.