The Car Has Undergone Major Redesigns and Upgrades in the Past

question 33

Multiple Choice

The car has undergone major redesigns and upgrades in the past few decades. For instance, car windows used to have to be rolled down manually. Now drivers can push a button to roll their windows up and down. The body of the car has been changed as well. In particular, the front of the car has been changed so that in case of a crash, the very front of the car will absorb more of the impact. The intent is to leave the cabin area intact so that the driver and passengers will not be harmed. The first example is a(n) _________________ modification, while the second change is an example of a(n) ______________modification.

• A) quality; functional
• B) product; functional
• C) functional; quality
• D) product; aesthetic
• E) aesthetic; quality

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Definitions:

Risk-averse

A description of an investor's preference for lower risk options, valuing stability over potential higher returns.

Total Utility

The complete enjoyment or advantage gained from the consumption of a specified overall amount of a product or service.

Expected Value

The anticipated value of an investment in the future, taking into account various possible outcomes weighted by their respective probabilities.

Disability Insurance

A type of insurance that provides income in the event that a worker is unable to perform their work and earn money due to a disability.