The 'Lean Startup' Preaches Constant Iteration of Products

question 173

Multiple Choice

The 'Lean Startup' preaches constant iteration of products.This process can be referred to as:

• A)limited rollout
• B)phased geographic rollouts
• C)market-product expansion
• D)fast prototyping

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Definitions:

Adverse Selection

Adverse selection is a situation in which an asymmetry of information between buyers and sellers results in the failure to facilitate optimal market outcomes, often seen in insurance markets where those most likely to claim insurance are also the most likely to purchase it.

Moral Hazard

The tendency of a person or entity to take risks because the negative consequences of the risk will be borne by another party.

Unobservable Actions

Actions taken by individuals or entities that cannot be seen or monitored by others, often discussed in the context of economics or game theory.

Moral Hazard

A situation where one party is more likely to take risks because the negative consequences of the risk will be borne by another party.