________ Provide an Incentive for Invention and Innovation

question 20

Multiple Choice

________ provide an incentive for invention and innovation.

• A) Economies of scale
• B) Network effects
• C) Natural monopolies
• D) Patents

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Definitions:

Long-Term Planning

The process of setting major goals and objectives and outlining the strategies to achieve them over an extended period, usually several years into the future.

Acquisition Strategy

The plan or approach a company uses to acquire other companies or assets to achieve growth, diversify, or gain competitive advantages.

Manufacturing and Distribution Center

A facility that combines both the production of goods and their distribution to retailers or consumers, streamlining the supply chain process.

Performance Orientation

A focus on achieving excellence and high performance in tasks, whether individually or by groups.