Does It Make Sense? Is It Reasonable? Is It Something

question 63

Multiple Choice

Does it make sense? Is it reasonable? Is it something consumers will get excited about? Does it take advantage of an environmental trend, solve a problem, or fill a gap in the marketplace? These are the types of questions asked during the ________ component of a complete feasibility analysis.

• A) financial feasibility
• B) industry/target market feasibility
• C) organizational feasibility
• D) concept feasibility
• E) product/service feasibility

Grasp the concept of utility and the influence of production processes on creating value-added goods and services.

Understand the impact of location decisions on manufacturing with respect to raw materials, market proximity, and logistics.

Recognize the role of technology in manufacturing, including robotics and computer-aided design/manufacturing systems.

Understand the importance of standardization in manufacturing and its impact on efficiency and product quality.

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Definitions:

Growth Rates

The measure of the increase in the amount, value, or size of something (such as GDP, population, etc.) over a specific period of time.

Real GDP

The measure of a country's economic output adjusted for price changes, reflecting the true value of goods and services produced over a specific period.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all final goods and services produced within a country's borders in a specific time period, expressed in base-year prices.

Growth Rate

The rate at which a company's sales or revenues increase over a specified time period.