Which of the Following Statements About the Screening and Evaluation

question 209

Multiple Choice

Which of the following statements about the screening and evaluation stage of the new-product process is true?

• A)The external approach decides whether the new-product idea is technically feasible.
• B)Concept testing is part of the internal approach.
• C)New-product ideas are eliminated during the business analysis stage.
• D)A mock-up of a movie based on the Friends series shown to moviegoers who are asked their opinions of the movie is an example of a concept test.

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Definitions:

Real Wage Rate

The purchasing power of wages, adjusted for inflation, indicating the actual goods and services that can be bought.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource, like labor or capital.

Wage Rate

The amount of compensation paid per unit of time to an employee or worker for their services.

Employment

The state of having paid work or the total number of people who are employed within a specific economy.