Nathan, a Designer at Zeal Inc

question 33

Multiple Choice

Nathan, a designer at Zeal Inc., comes up with a new idea. While Nathan considers turning it into a piece of art, Ricky, his colleague, suggests converting the idea into a product that generates revenue. Ricky's suggestion to convert the idea into a revenue-generating product refers to a(n) ___________.

• A)innovation
• B)revolution
• C)invention
• D)variation

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Definitions:

Statutorily Secured Monopoly

A monopoly status granted and protected by law to a company, often due to the nature of the industry or service it provides.

Useful New Devices

Innovations or inventions that offer a new utility, often eligible for patent protection.

Fraudulent Marketing

The act of promoting products or services using deceptive, misleading, or false statements to lure consumers into purchasing.

Palming Off Goods

A deceptive practice where a seller misrepresents the origin, quality, or brand of a product to pass it off as another’s.