A Biological Metaphor That Traces the Stages of a Product's

question 47

Multiple Choice

A biological metaphor that traces the stages of a product's acceptance,from its introduction (birth) to its decline (death) is called the:

• A) product diffusion process
• B) product phase
• C) product adoption stages
• D) product evolution cycle
• E) product life cycle

---

Definitions:

Entrepreneurial Ability

The skills and qualities that enable an individual to conceive, launch, and manage a new business venture successfully.

Physical Capital

The stock of tangible, man-made objects that contribute to production processes, such as machinery, buildings, and tools.

Bulldozers

Heavy machinery equipment used for moving, digging, and clearing large pieces of land.

Entrepreneur

An individual who creates and manages a business venture in order to generate profits, often taking on financial risks.