The Payments System Is

question 5

Multiple Choice

The payments system is

• A)the mechanism for conducting economic transactions.
• B)another name for the system of foreign exchange rates.
• C)the phrase used to describe how transactions are carried out in an economy that does not use money.
• D)the way in which economic transactions are carried out in a government-controlled economy, such as the former Soviet Union.

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Definitions:

New and Improved

A marketing term indicating that a product has been updated or enhanced from its previous version.

Idea Generation

The stage of new-product development in which a set of product concepts is generated from which to identify potentially viable new products.

Marketed Products

Goods or services that are actively promoted and sold to consumers through various marketing strategies.

Idea Generation

The creative process of coming up with new ideas, often the first step in the development of new products or strategies.