New Products That Are Minor Variations on Existing Products, and Which

question 191

Multiple Choice

New products that are minor variations on existing products, and which require no change to consumer behavior, are called _____.

• A) fads
• B) new products
• C) second movers
• D) discontinuous innovation
• E) continuous innovations

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Definitions:

Budgetary Process

A systematic method used by organizations or governments to allocate financial resources and plan for future financial needs.

Continuing Resolutions

Legislative measures used by the government to allow funding for its operations in the absence of an agreed-upon formal budget.

Biennial Budget

A budget or financial plan projected for two years, typically used by some state governments in the United States.

Federal Government Budget Process

The procedure through which the federal government creates a budget, involving proposals, reviews, and approvals by various branches of government.