Posted: March 7th, 2017
The bank is looking for new clients in high growth industries. Until a few years ago, if a consumer wished to purchase music, he or she would have to buy a recording of it at a store, but there is only a limited supply of compact discs, tapes, or records at any given store. Because of advancements in technology, consumers can now download music with virtually no restrictions on supply. Your manager has asked you to identify a product, aside from the music industry itself, which has experienced a dramatic increase in supply because of technological advancements. What has happened to the variety and price of those products?
Choose something (other than music) that you use or buy, on a regular basis… Can you think of something that has been revolutionized by technology improvements, the way that music has?
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