The Development of New, Often Radically Different, Kinds of Goods

question 87

Multiple Choice

The development of new, often radically different, kinds of goods and services is called _____.

• A) quantum process innovation
• B) quantum product innovation
• C) incremental product innovation
• D) incremental process innovation
• E) process reengineering

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Definitions:

Failure of Consideration

A situation where the promised performance in a contract is not fulfilled, making the contract voidable.

Breach of Contract

The failure to fulfill the terms or obligations outlined in a contract.

Fraud in the Inducement

A deceitful practice to mislead someone into entering a contract, undermining the agreement's legitimacy.

Indorsers

Individuals or entities that sign the back of a negotiable instrument, such as a cheque or a promissory note, thereby endorsing it to another party.