Asked by logan brockway on Jun 10, 2024
Verified
Which of the following does not foster innovation and technological advance?
A) competition in markets
B) freedom of choice and enterprise
C) self-interest and personal rewards
D) fear and avoidance of risk
Technological Advance
(1) An improvement in the quality of existing products, the invention of entirely new products, or the creation of new or better ways of producing or distributing products. (2) Any improvement in the methods by which resources are combined such that the same quantity of inputs can be made to yield a combination of outputs that is preferred to any combination of outputs that was previously possible.
Freedom of Choice
The right of individuals to make decisions for themselves without undue government restriction.
- Analyze the factors that foster innovation and technological advancement.
Verified Answer
Learning Objectives
- Analyze the factors that foster innovation and technological advancement.
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