A(n) ________ Innovation Is a Change in the Way a Product

question 59

Multiple Choice

A(n) ________ innovation is a change in the way a product or service is conceived, manufactured, or disseminated.

• A) procedural
• B) process
• C) product
• D) transformational
• E) adaptive

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Definitions:

Willingness-to-pay

The maximum amount an individual is ready to spend to procure a good or service, reflecting its perceived value.

Two-part Tariff

A pricing mechanism that consists of a fixed fee plus a variable charge for every unit of the good or service consumed.

Estate Planning Services

Professional services aimed at assisting individuals in managing the distribution of their assets and wealth after their death.

Two-part Tariff

A pricing strategy where the price of a product or service is composed of two parts: a fixed fee plus a variable charge based on usage or consumption.