Which of the Following Is True of Market-Driven Innovation

question 6

Multiple Choice

Which of the following is true of market-driven innovation?

• A) The main purpose of design in market-driven innovation is to modify the product so that it meets customer expectations.
• B) In market-driven innovation, new meanings and new technologies are pushed forth.
• C) In market-driven innovation, design is of primary importance, and it takes on the leadership role.
• D) The main role of design in market-driven innovation is to modify the product so that it can accommodate the performance characteristics.

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Definitions:

Efficiency Wage

A theory suggesting that paying workers a higher wage than the market equilibrium wage can lead to increased productivity and efficiency.

Equilibrium Wage

The salary level where the demand for labor from employers matches the supply of labor from workers.

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in a production process.

Human Capital

The competencies, insights, and background that an individual or community has, assessed based on their economic value or cost to an organization or country.