Homework answers / question archive / In the last 20 years, firms that produce cameras have begun to produce fewer 35-mm cameras and more digital cameras

In the last 20 years, firms that produce cameras have begun to produce fewer 35-mm cameras and more digital cameras

Economics

Share With

In the last 20 years, firms that produce cameras have begun to produce fewer 35-mm cameras and more digital cameras.

This trend is an example of:

A. how central planners dictate which cameras are produced.

B. the market system answering the question of "how" cameras should be produced.

C. the market system answering the question of "what" cameras should be produced.

D. the market system answering the question of "who" should consume the cameras that are produced.

E. how firms fail to respond to improvements in technology and changes in consumer tastes.