During Which Stage of the Service Innovation and Development Process

question 58

Multiple Choice

During which stage of the service innovation and development process are demand analysis,revenue projections,cost analyses and operational feasibility assessed?

• A) Commercialization
• B) Business analysis
• C) Market testing
• D) Service development and evaluation
• E) Post introduction evaluation

Understand the concept and graphical representation of a budget constraint and how income changes affect it.

Grasp the meaning and implications of the slope of the budget constraint.

Comprehend the properties and graphical characteristics of indifference curves.

Learn the relationship between the marginal rate of substitution (MRS) and the slope of indifference curves.

---

Definitions:

Punishment

The imposition of a penalty as retribution for an offense or undesirable behavior.

Reinforcement

A process in psychology and behavior analysis that strengthens a behavior or response due to the application of a stimulus (reward or punishment) after the behavior occurs.

Unpleasant Consequence

An undesirable result or effect that follows a particular action or decision.

Law of Immediate Reinforcement

A principle stating that behaviors are more likely to be repeated when they are immediately followed by a positive reinforcement.