The Market for Smartwatches Is Becoming Very Competitive

question 304

Multiple Choice

The market for smartwatches is becoming very competitive.The increase in competition in this market is an example of how the market responds to

• A)changes in consumer tastes.
• B)increases in income.
• C)changes in population.
• D)decreases in the price of smartphones (a substitute for the product).

Identify the significance of digital inclusivity and the challenges faced by communities with limited access to technology.

Comprehend the role of ephemeral content in current social media trends.

Grasp the concept of relationship management and its importance in social media marketing.

Understand the evolutionary nature of social media and the significance of adaptability.

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Definitions:

Economic Stabilization

Efforts or policies aimed at maintaining economic growth, controlling inflation, and reducing unemployment to achieve a stable economy.

Discretionary Policies

Economic strategies and decisions made by a government that can be altered or adjusted in response to changing economic conditions.

Milton Friedman

A prominent American economist known for his strong belief in free-market capitalism and for being a leading proponent of monetarism in economic policy.

Monetarist

An economic theory that emphasizes the role of governments in controlling the amount of money in circulation as the primary method for ensuring economic stability and growth.