Technological innovations increase:
A) the gross domestic product of an economy.
B) product life cycles.
C) the time required for product development and introduction.
D) the production costs of multiple product variations.

Question

Quizplus · Accepted Answer

Technological innovations increase productivity, efficiency, and competitiveness, which lead to economic growth and an increase in the gross domestic product. This is often achieved by reducing labor costs, increasing speed and accuracy, and opening up new markets.

Technological Innovations Increase