Examlex
What are the characteristics of disruptive technologies? Give an example of disruptive technology.
Limited Resources
The finite availability of inputs such as labor, materials, and capital, which restricts production capabilities and economic growth.
Unlimited Wants
The concept in economics that human desires for goods and services exceed the available resources, leading to perpetual states of decision making and prioritization.
Economizing Behavior
The tendency of individuals or organizations to attempt to minimize costs or expenses and maximize value.
Scarce Resources
Limited natural resources that are not abundant enough to satisfy all the wants and needs of a population.
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