New-To-The-World Products Can Establish Completely New Markets or Radically Change

question 139

True/False

New-to-the-world products can establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.

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Definitions:

Economy

The system or range of economic activities in a particular area, involving the production, distribution, and consumption of goods and services.

Unemployment Rate

The proportion of jobless individuals who are making an active effort to find employment in the labor force.

Natural Rate

The level at which a certain economic variable (such as unemployment or interest rate) naturally settles, in the absence of external influences.

Congressional Budget Office

A non-partisan federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.