What Is the Systematic Approach to New Product Development Called

question 146

Multiple Choice

What is the systematic approach to new product development called in which products are developed in an orderly series of steps from one department to the next?

• A) phased development
• B) a parallel approach
• C) PERT (program evaluation and review technique)
• D) CPM (critical path method)

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Definitions:

Disinflation

A reduction in inflation rates, signaling a deceleration in the pace at which the prices of goods and services rise.

CPI

The Consumer Price Index serves as a measurement tool that quantifies the average cost of a selected range of consumer goods and services, taking into account food, transportation, and healthcare, through weighted average prices.

Disinflation

A decrease in the rate of inflation, resulting in a slow down in the rate at which prices are rising.

Deflation

is the decrease in the general price level of goods and services, often signifying an economic contraction.