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Technological improvements and innovations result in________
  • a)
    Increase in tax
  • b)
    Render existing products obsolete
  • c)
    Reduction in profit margins
  • d)
    None of these
Correct answer is 'B'. Can you explain this answer?
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Most Upvoted Answer
Technological improvements and innovations result in________a)Increase...
Technological improvements and innovations result in rendering existing products obsolete. This is because new technology often offers better features, increased efficiency, and lower costs, which make existing products less desirable in comparison. This can lead to a decrease in demand for existing products and a reduction in profit margins for companies that produce them.

Innovation and technological improvements also create new opportunities for businesses to introduce new products and services. However, this requires significant investment in research and development, which can be costly. Moreover, new products may not be successful in the market, resulting in losses for companies that take risks in developing them.

Overall, while technological improvements can have significant benefits for businesses and society as a whole, they can also lead to challenges for companies that fail to adapt to changing market conditions. Companies that are successful in embracing innovation and adapting to changing market trends are more likely to thrive in the long run.
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Technological improvements and innovations result in________a)Increase...
Due to the upgradation in technical machines,it's obvious that the product produced from previous technology will become obsolete.Becz of innovation and technological development,lead to upgradation in the quality of goods also.
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Direction: Read the following text and answer the questions given below:As the government has opened up its economy to Multinational Corporations, it has encouraged foreign companies to invest in some sectors of retailing. It has also put in place new rules and regulations for FDI (Foreign Direct Investment) in the retail sector. The FDI policy allows foreign investment through two modes. It may be either under the ‘automatic route’ or under the ‘approval route’ where prior approval of the Indian Government is required for any foreign investment in an Indian company which is carrying on retailing business in India. Moreover, the policy also talks about ‘Single brand retailing’ like Nike or ‘Multi- brand retailing’ like Walmart. The argument is that customers can afford to purchase the products of these companies as their income is rising gradually. It will increase research and innovations in the retail sector which will provide new ways of producing goods as well as increase the variety of goods in the market. This will eventually improve the quality of life.“It will increase research and innovations in the retail sector…” Identify which dimension of business environment is depicted here.

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Technological improvements and innovations result in________a)Increase in taxb)Render existing products obsoletec)Reduction in profit marginsd)None of theseCorrect answer is 'B'. Can you explain this answer?
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Technological improvements and innovations result in________a)Increase in taxb)Render existing products obsoletec)Reduction in profit marginsd)None of theseCorrect answer is 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Technological improvements and innovations result in________a)Increase in taxb)Render existing products obsoletec)Reduction in profit marginsd)None of theseCorrect answer is 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Technological improvements and innovations result in________a)Increase in taxb)Render existing products obsoletec)Reduction in profit marginsd)None of theseCorrect answer is 'B'. Can you explain this answer?.
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