According to Peter Drucker, the Primary Goal of Innovation Is

question 106

Multiple Choice

According to Peter Drucker, the primary goal of innovation is to:

• A) promote social well-being.
• B) increase the number of jobs.
• C) create wealth.
• D) support national economies.

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Definitions:

Budget Line

A graphical depiction of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Consumption Bundles

Combinations of various goods and services that a consumer might purchase using their total available income.

Income

The monetary payment received for work or through investments, pensions, or social benefits, used by individuals or households to consume goods and services.

Marginal Utility

The increased enjoyment or value a buyer gets by consuming an extra unit of a merchandise or service.