Incremental Innovations

question 114

Multiple Choice

Incremental innovations

• A)are usually highly disruptive.
• B)usually represent technological breakthroughs.
• C)are usually small improvements in products and processes.
• D)nearly always can be patented.

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Definitions:

Paradox Of Voting

A situation where individual rationality in voting may lead to outcomes that are not collectively optimal, such as the failure to elect the most preferred candidate due to vote splitting.

Median Voter Model

A theoretical model in political science that suggests policies will converge towards the preferences of the median voter in a majority rule voting system.

Benefits-Received Principle

The idea that those who receive the benefits of goods and services provided by government should pay the taxes required to finance them.

Limited And Bundled Choices

Marketing strategies that restrict consumer options or package multiple products and services together.