In an Attempt to Eliminate Spectacles from the Market, Lensamt

question 107

Multiple Choice

In an attempt to eliminate spectacles from the market, Lensamt, a company that manufactures and supplies contact lenses, launched an advertising campaign to popularize its products. To counter this and stay in the market, the spectacle manufacturers introduced new offers and discounts on spectacles. In the context of innovation streams, which of the following concepts does this scenario best illustrate?

• A) Design competition
• B) Technological lockout
• C) Technological substitution
• D) Design iteration

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Definitions:

Interest Rate

The percentage of a loan charged to the borrower as interest, usually presented as an annual rate of the remaining loan balance.

Present Value

The calculated present value of a prospective sum of money or cash flow stream, utilizing a given rate of return.

Land

In economics, land refers to all natural resources used to produce goods and services, including not just real estate but also agricultural land, forests, and mineral resources.

Demand

The amount of a product or service that buyers are ready and capable of buying at different price levels over a specific period.