________ Refers to a Detailed Version of the New-Product Idea

question 63

Short Answer

________ refers to a detailed version of the new-product idea stated in meaningful consumer terms.
Product generation
The product concept
Product testing
Product commercialization
Product crowdsourcing

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Definitions:

Government Purchases

Expenditures made by the government for goods and services that directly satisfy the needs of the community or are used to provide public services.

Transfer Payments

These are payments made by the government to individuals, without the government receiving any goods or services in return, such as welfare or social security.

Resources

Assets, materials, or inputs used in the production of goods and services.

Federal Tax Revenue

The income collected by the federal government mainly through taxes such as income tax, corporate tax, and excise duties.