Innovation Will Spread Faster If It Has Which of the Following

question 1

Multiple Choice

Innovation will spread faster if it has which of the following?

• A)A slight advantage over its predecessor
• B)Compatibility with existing systems and procedures
• C)More rather than less complexity
• D)Significant commitment to the innovation
• E)Difficult to copy

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Definitions:

First-in

This principle dictates that the earliest goods to be added to inventory are the first ones to be removed from it, commonly applied in financial and inventory management.

Conversion Costs

The sum of labor and overhead costs that are necessary to convert raw materials into finished products.

Equivalent Units

Equivalent units is a concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units.

Weighted-average

A calculation that takes into account the varying degrees of importance or quantities of different items in a data set, providing a figure that reflects their proportional contributions.