Even Though Industries Might Be at Different Stages in Their

question 66

True/False

Even though industries might be at different stages in their industry life cycle and the progress of their paces vary,all industries will eventually reach the mature stage.

---

Definitions:

Demanded Design

A design approach or product feature specifically requested or sought after by consumers or the market.

Consumer Surplus

The variance between the amount consumers are ready to spend on a good or service and the actual amount they pay.

Efficiency

The degree to which resources are used effectively and waste is minimized, often aiming at maximizing output from given inputs.

Highest-value Bidder

The participant in an auction willing to pay the most for the item up for bid.