The Ability to Imagine a Future Market Opportunity That Is

question 18

True/False

The ability to imagine a future market opportunity that is currently unpopulated with competitors is called "Blue Ocean Strategy."

---

Definitions:

Toys

Objects designed for play, typically used by children, that can range from simple handmade items to complex electronic gadgets.

Demand Schedule

A chart displaying how much of a product consumers are ready and able to buy at different price points.

Maximize Profits

Refers to strategies or actions undertaken by a business or enterprise aimed at increasing the difference between its total revenues and total costs.

Marginal Revenue

The additional income generated from selling one more unit of a product or service.