The modern view of technological advance is that it
A)is the result of random lucky events unrelated to the economic system.
B)requires government R&D spending to keep it going.
C)arises from intense rivalry among individuals and firms within the capitalist system.
D)is a force that is external to the economy, to which the economy adjusts.

Question

Quizplus · Accepted Answer

The modern view of technological advance emphasizes the role of competition and the drive for innovation within the capitalist system. This competition among individuals and firms is seen as a key driver for technological progress, as entities strive to gain an advantage or solve problems more efficiently.

The Modern View of Technological Advance Is That It