Which among the following is the strongest determinant of an industry's technological progressiveness?
A) the scientific character of its industry and the number of technological opportunities available
B) the size of the industry concentration ratio-the lower the ratio, the greater the firm's technological progressiveness
C) the Herfindahl index in the firm's industry-the higher the index value, the greater the firm's technological progressiveness
D) the amount of retained earnings in the industry

Question

Quizplus · Accepted Answer

The scientific character of an industry and the number of technological opportunities available are the strongest determinants of an industry's technological progressiveness. This is because industries with a high scientific character tend to have more technological opportunities and advancements available, providing firms in the industry with more opportunities for progressiveness. In contrast, the other options- industry concentration ratio, Herfindahl index, and amount of retained earnings, are not necessarily directly related to technological progressiveness.

Which Among the Following Is the Strongest Determinant of an Industry's