Generally,a New Product Is Considered as a Good,service,or Good/service Bundle

question 23

Multiple Choice

Generally,a new product is considered as a good,service,or good/service bundle that

• A)Is similar to the competition
• B)Was previously not available to customers
• C)Was modified from similar products
• D)Is customized specifically for an individual customer
• E)Is requested by the firm's supply chain members

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Definitions:

Deflationary Gap

A situation in which the total spending in an economy is lower than the necessary amount to achieve full employment or potential output.

GDP

Gross Domestic Product, the total value of all goods and services produced within a country over a specified period.

MPC

The marginal propensity to consume, which measures the portion of additional income that an individual spends on consumption instead of saving.

Multiplier

In macroeconomics, a factor that quantifies the effect of an initial change in the economy (such as investment or spending) on the total level of economic activity.