_____ Refer to the Costs (Or Benefits)of Technological Innovations That

question 28

Multiple Choice

_____ refer to the costs (or benefits) of technological innovations that are borne by individuals other than those responsible for creating them.

• A) Externalities
• B) Innovation funnels
• C) Opportunity costs
• D) Cultural lags

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Definitions:

Price Fixing

An illegal agreement among competitors to fix, control, or maintain the price of goods or services at a certain level, often leading to antitrust violations.

Antitrust Action

A legal step initiated to prevent or reduce anti-competitive practices, promoting fair competition in the market.

Competitive

Competitive refers to the characteristic of entities that are in a state of rivalry, vying for the same objectives or markets.

Chicago School

refers to a school of economic thought that promotes free-market principles and holds that economic freedom leads to economic development.