Question

An example of technological change is A. a firm rearranging the layout of a retail store to increase salesthe layout of a retail store to increase sales. B. a firm's workers going through a training programa firm's workers going through a training program. C. a hurricane damaging firm facilitiesa hurricane damaging firm facilities. D. both a and b E. all of the above.

Answer 1

Answer:

The correct answer is option D.

Explanation:

Technological change refers to an improvement in the efficiency of a product such that the output level increases without an increase in input.  

Here, the rearranging of layout and training of workers is technological change as they are likely to increase production without an increase in inputs.  

Damages caused by a hurricane will reduce the output level, so it will not be classified as a technological change.