Developing a ________ Helps to Ensure That a Product Will

question 27

Short Answer

Developing a ________ helps to ensure that a product will not be a hazard to users or their families, that it can be produced in the company's or supplier's manufacturing facilities, and that it can be manufactured at a cost low enough to generate profits.

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Definitions:

Payback Period

A capital budgeting technique that rates projects according to the speed with which they return invested money.

Cumulative Profits

The total amount of profit a company has earned over a specific period, adding together all net profits and losses to date.

Initial Outlay

The initial investment or capital required to start a project or investment.

Mutually Exclusive

Events or choices that cannot occur or be chosen at the same time, necessitating an either/or selection.