A Backward Invention Is _

question 1

Multiple Choice

A backward invention is _ .

• A)when a firm first markets a product internationally and then brings this product into the homeland
• B)another meaning to the term of dumping a product into the foreign market
• C)an example of a straight extension strategy
• D)a nonexistent term in marketing
• E)when a firm may find it needs to offer a less complex product than it sells elsewhere

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Definitions:

Unlimited Wants

The economic concept that humans have endless desires or wishes for goods and services, exceeding the finite resources available.

Limited Means

A situation or condition of having restricted financial resources or capabilities.

Capital Equipment

Long-lasting tools, machinery, or infrastructure used in the production of goods and services.

Fertile Land

Soil or land that is rich in nutrients, making it highly productive for agriculture.