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How Are Innovations Characterized

question 80

Short Answer

How are innovations characterized?


Definitions:

Service

An intangible activity or benefit provided to satisfy the needs of a consumer or business.

Essential Goods

Items considered necessary for basic human survival and well-being, such as food, water, and shelter.

Nonessential Goods

Goods considered as luxuries or not necessary for basic living, often subject to reduced spending during economic downturns.

Expensive

Involving high cost or price; something that is costly.

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