As pizza topped with barbecue chicken became popular at specialty restaurants, Pizza Hut introduced a similar pizza. This imitation illustrates:
A. innovation.
B. invention.
C. creative destruction.
D. diffusion.
Answer: D
You might also like to view...
Which of the following is motivated by an equity concern?
A) The United States protects intellectual property rights, allowing inventors to prevent others from using their inventions without payment. B) Some U.S. colleges have cut back on merit scholarships since these programs siphon money from need-based programs, thus harming lower-income students with greater financial need. C) Following the removal of subsidies in urban water use, household demand for water decreased quite significantly in Bogor, Indonesia. D) In November 2003, the Federal Communications Commission implemented the "local number portability" rule which gives cell phone customers the option of keeping their number when they switch carriers within the same geographic region.
Suppose there are no borrowing constraints but the individual wishes to leave a bequest of $120,000 (after adjusting for inflation) to heirs. Then annual consumption should be
Consider an individual who enters adulthood and the labor force at age 18, expects to work 5 years at a real income of $10,000 per year, anticipates earning a real income of $40,000 per year from age 23 to 63, expects to retire with a $10,000 annual pension, and live until age 78. Suppose the interest rate is zero, and the individual seeks perfectly smooth consumption across his adult lifetime. a) $12,000 b) $16,000 c) $20,000 d) $24,000 e) $28,000
The most frequently used experimental or observational data in econometrics are of the following type:
A) cross-sectional data. B) randomly generated data. C) time series data. D) panel data.
_____________ sector savings only sometimes (and partially) adjust to offset government budget deficits and surpluses.
a. Foreign b. Corporate c. Public d. Private