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 play a crucial role in determining an industry's technological progressiveness. Industries that have a higher scientific character, i.e., those that require a deep understanding of science, and have more technological opportunities available are more likely to be technologically progressive. This is because there is a greater need for innovation and experimentation in such industries, and there are more opportunities for firms to develop new technologies and improve existing ones. On the other hand, industries that are less scientifically demanding and have fewer technological opportunities may be less technologically progressive.

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