What is one of the main reasons companies must continuously improve their products?

Economic Concepts and Technological Impact

Interactive Video
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Business
•
9th - 10th Grade
•
Hard

Patricia Brown
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To avoid paying higher taxes
To reduce production costs
To maintain customer loyalty
To increase government regulation
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the policy adopted by the Hong Kong government regarding market interference?
Strict regulation
Full government ownership
Complete non-interference
Partial control
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe the process of economic renewal through innovation?
Market Saturation
Technological Regression
Economic Stagnation
Creative Destruction
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the 'destructive' part of creative destruction?
The rise in market competition
The increase in consumer goods
The closure of old factories and shops
The creation of new jobs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How have cell phones impacted farmers in developing countries?
By allowing them to check market prices and negotiate better deals
By increasing their dependency on local buyers
By making traditional farming methods obsolete
By reducing the need for agricultural production
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role did telecom companies play in the cell phone revolution?
They aimed to reduce market share
They wanted to increase market share
They focused on landline expansion
They restricted cell phone distribution
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a significant downside of technological advancements according to the video?
Increased government intervention
Higher production costs
Job displacement and inequality
Decreased consumer demand
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