As Productivity Increases, the Cost of Producing Goods and Services

question 303

True/False

As productivity increases, the cost of producing goods and services is likely to fall.

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Definitions:

Discontinuous Innovation

A form of innovation that creates a significant change in the way a market functions, often leading to the creation of entirely new markets.

Dynamically Continuous Innovation

Innovations that represent a significant change to an existing product or process but do not completely disrupt consumer habits.

Discontinuous Innovation

A groundbreaking innovation that significantly changes existing markets or creates new ones by introducing a novel product or service.

Continuous Innovation

Ongoing efforts to improve products, services, or processes, which can help organizations stay competitive and meet customers’ evolving needs.