The modern view of technological advance is that it
A)is rooted in the independent advance of science, an element largely external to the market system.
B)is rarely carried out by oligopolists or pure monopolists.
C)is an internal element of capitalism, occurring in response to profit incentives.
D)necessarily destroys existing monopoly power.

Question

Quizplus · Accepted Answer

The modern view of technological advance posits that it is an integral part of capitalism, driven by the pursuit of profits. This perspective emphasizes that innovation and technological progress are responses to market incentives and competition, rather than being solely the result of scientific advancement or external to the economic system.

The Modern View of Technological Advance Is That It