According to the Three-Step Innovation Process, What Sort of Technology

question 132

Multiple Choice

According to the three-step innovation process, what sort of technology is involved if Roescore Inc. turns a working model into a financially successful new product?

• A) Transfer
• B) Application
• C) Production
• D) Exploitation
• E) Product

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Definitions:

Marginal Benefit

The additional benefit derived from producing one more unit of a good or service.

Accounting Profit

The total revenue of a business minus its explicit costs; essentially the net income reported on the financial statements.

Economic Profit

The difference between the total revenue received by a business and the total costs, including both explicit and implicit costs.

Overhead

Ongoing business expenses not directly attributed to creating a product or service.