In the Early 1960s South Korea Was an Extremely Poor

question 87

Multiple Choice

In the early 1960s South Korea was an extremely poor country. However, in 1963, the country began a remarkable economic ascent. What was a direct cause of this?

• A) a shift in strategy that emphasized exports rather than imports
• B) an increase in wages
• C) an increase in the labor force
• D) an increase in the money supply
• E) an emphasis on education, leading to a highly productive labor force

Distinguish between different types of innovations: performance-improving, efficiency-enhancing, and market-creating innovations.

Identify the reasons and benefits companies have for choosing specific types of innovations.

Recognize the role of risk-taking and preparedness in the innovation process.

Understand the significance of reaching and creating a new class of consumers through innovation.

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Definitions:

Sales Forecasts

Predictions of the future sales revenue of a product or service within a specified time frame, based on historical data, market trends, and economic conditions.

Evaluate Strengths

The process of identifying and assessing the strong points or advantages that an individual, company, or product possesses.

Competitors' Brands

Brands offered by competing companies in the same industry.