Product Development Is a Strategy of Increasing Sales by Improving

question 30

True/False

Product development is a strategy of increasing sales by improving present products or developing new products for current markets.

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Definitions:

Units of Output

A measurement of production, quantifying the total goods or services produced by a company or industry.

Productive

Having the ability or capacity to produce a significant amount or result, especially regarding economic goods or services.

Complementary Factors

Complementary factors in economics refer to goods or inputs that are used together in production or consumption, where an increase in demand for one leads to an increase in demand for the other.

White-collar Employment

Jobs that typically involve professional, managerial, or administrative work, often in an office setting, as opposed to blue-collar jobs that involve manual labor.