Question

Advances in production, such as new technology, can do which of the following to a good?

A. transform it from an expensive luxury to a mid-priced good
B. change it from a necessity to an expensive nonessential
C. make the production so simple that it becomes unnecessary
D. raise the price as more features become available
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Answer 1

A) transform it from an expensive luxury to a mid-priced good.

This is because advances in production can make it easier and cheaper to produce the good. Making the good go from expensive to a mid priced good.

Answer 2

Advances in manufacturing, such as new technology, can have a significant impact. Make it a mid-priced good instead of an expensive luxury.

This is because technological advancements might make producing the thing easier and less expensive. Changing the good from a high-priced item to a mid-priced item.

So, Option "A" is the correct answer to the following question.

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