Final answer:
C) Innovation is the introduction of new goods and services and plays a key role in technological change and economic growth.
Step-by-step explanation:
Innovation is the introduction of new goods and services, making the correct answer to the question C) Innovation. Innovation involves the process of incrementally or radically modifying an existing product, system, or process to improve it. It's part of technological change, which can be seen as a combination of invention - advances in knowledge - and innovation. MIT Sociologist Everett Rogers' diffusion of innovations model explains how a new product reaches market saturation through increased adoption over time.
Technology refers to all the ways in which existing inputs produce more or higher quality outputs, as well as completely different and altogether new products. When these technologies are adopted, they often lead to economic growth and impact the culture through material cultural change.
For instance, the widespread adoption of smartphones has not only changed how we communicate but has also created entirely new industries, changed social behaviors, and has become a symbol of globalization and modernization in different cultures.