What Is Necessary for a Prototype to Be Effective

question 5

Multiple Choice

What is necessary for a prototype to be effective?

• A)It must be a working model of the product or service.
• B)It must communicate what our ideas look like,how they behave,and how they work.
• C)It must be the same as the model that will be launched at the start of the business.
• D)It must include engineering models or,for a service,an operational plan.

---

Definitions:

Economic Profits

The discrepancy between total income and overall expenses, encompassing all direct and indirect costs.

Production Costs

The total expenses incurred in the manufacture of a product, including raw materials, labor, and overhead.

Economic Profits

The surplus left after deducting both explicit and implicit costs from total revenues.

Savings Account

A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.