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Technological Progress Has Made It Possible for Firms Such as Apple

question 282

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Technological progress has made it possible for firms such as Apple and Alivecor to develop small electronic devices,including smartwatches,smartphones,and products that can be attached to the smartwatches and smartphones,to serve consumers who have become more health conscious and wish to monitor various health conditions.These firms are reacting to which of the three key economic ideas?


Definitions:

Initial States

The starting conditions or positions of a system or process from which changes or developments occur.

End States

The final condition or position of a process, project, or situation after all changes or developments have occurred.

Flashes of Insight

Flashes of insight refer to sudden realizations or moments of clarity that solve a problem or provide understanding, often occurring unexpectedly after periods of contemplation.

Generating Knowledge

The process of creating new understandings, insights, or information through observation, experimentation, reflection, and analysis.

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