Companies Should Not Use Too Many Metrics to Evaluation Innovation

question 50

Multiple Choice

Companies should not use too many metrics to evaluation innovation efforts. A good number is

• A) between 2 and 3.
• B) between 4 and 6.
• C) between 8 and 12.
• D) between 13 and 15.
• E) between 15 and 20.

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Definitions:

Scarce Resources

Essential inputs that are available in limited quantities for the production of goods and services, leading to the problem of allocation.

Law of Demand

Economic principle stating that, ceteris paribus, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Unlimited Wants

The economic concept that human desires and needs are endless and vary in nature, leading to constant demand for goods and services.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded of that good, typically downward sloping.