What is a difference between technology businesses and other small businesses? Question 6 options: Technology businesses never start in garages, basements, kitchens, or dorm rooms, while some other types of small businesses can start in these places. Technology businesses have lower initial startup costs than other small businesses. Technology businesses require greater capital and have higher initial startup costs than other small businesses. Technology businesses are the only type of small business that uses technology. Technology businesses are less innovative than other small businesses.

What is a difference between technology businesses and other small businesses? Question 6 options: Technology businesses never start in garages, basements, kitchens, or dorm rooms, while some other types of small businesses can start in these places. Technology businesses have lower initial startup costs than other small businesses. Technology businesses require greater capital and have higher initial startup costs than other small businesses. Technology businesses are the only type of small business that uses technology. Technology businesses are less innovative than other small businesses.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter1: Introducing The Economic Way Of Thinking

Section: Chapter Questions

Problem 9SQ

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In Southeast Asia, Grab, the Singapore-based ride-hailing company, forced Uber out of the region in 2018 and acquired its local operations. A few months later, it expanded its app to offer its 130 million users not only food delivery and travel booking, but also financial and other services. These efforts helped Grab hit $1 billion in revenue in 2018 and attract more than $3 billion in fresh funding to expand. Later this year, it’ll add healthcare services from Ping An, the Chinese digital health giant. To Uber, Grab is a typical example of _________. * bargaining power of suppliers to the industry threat of substitute products or services rivalry among companies competing in the industry threat of new entrants to the industry
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Q-How does profit motive affect innovation and economic productivity? (Pages 43 – 50). Profit Motive Leads to Innovation and Increased Productivity According to Bruno Leone (1986), “In order to build and maintain a profitable concern, a businessman’s products would have to be needed, well-made, and competitively priced . Moreover, he would be creating jobs and helping to expand the general economy” (18). Profit motive promotes efficiency and productivity in an economy. The investor is constantly seeking new ways to effectively and efficiently provide goods and services to consumer, because, Mises (1986) stated, “Profit and loss are entirely determined by the success or failure of the entrepreneur to adjust production to the demand of the consumers” (40). The behavior of the consumer makes profits and losses occur, and this can result in a change of ownership from those who are inefficient to the efficient ones. Webley (1967) stated, “The successful firms are those that respond to the…
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	Technology businesses never start in garages, basements, kitchens, or dorm rooms, while some other types of small businesses can start in these places.
	Technology businesses have lower initial startup costs than other small businesses.
	Technology businesses require greater capital and have higher initial startup costs than other small businesses.
	Technology businesses are the only type of small business that uses technology.
	Technology businesses are less innovative than other small businesses.