Which of the Following Is a Technological Change Brought About

question 40

Multiple Choice

Which of the following is a technological change brought about by globalization enabled by information technology?

• A) increase in the frequency of international travel
• B) increase in the levels of immigration
• C) enforcement of global patent and copyright laws
• D) decrease in the frequency of worldwide fads
• E) decentralization of organizations

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Definitions:

Demand and Supply

The fundamental economic concept that describes the amount of a specific good or service that is available to consumers and the desire of consumers for it, considered as functions of its price.

Consumer Incomes

The total amount of money earned by consumers from various sources like wages, investments, and government benefits, which affects their purchasing power and economic behavior.

Normal Good

A good for which demand increases as the income of the consumer increases, all other factors being equal.

Substitutes

Products or services that can replace each other in use, where an increase in the price of one leads to an increase in demand for the other.