One of the most revolutionary impacts computer technology has had on business has been to:

• A. increase the efficiency of information processing and communication
• B. make all businesses operate as monopolies
• C. reduce the importance of consumer preferences
• D. eliminate the need for financial markets

Answer: (A)

Verified step by step guidance

1. Identify the key concept in the question: the impact of computer technology on business operations.
2. Recall that computer technology primarily affects how businesses handle information, including processing data and communicating internally and externally.
3. Understand that increased efficiency in information processing and communication allows businesses to make faster decisions, coordinate better, and respond more quickly to market changes.
4. Evaluate the other options: making all businesses monopolies, reducing consumer preferences, or eliminating financial markets are not direct or typical effects of computer technology.
5. Conclude that the most accurate impact is the increase in efficiency of information processing and communication, which aligns with fundamental microeconomic principles about how technology affects business productivity.