Before the Development of Computer-Assisted Design Software,many Firms Handcrafted __________,Wooden

question 36

Multiple Choice

Before the development of computer-assisted design software,many firms handcrafted __________,wooden or clay models that served as rough physical representations of a new product.

• A) premarket tests
• B) blockbusters
• C) prototypes
• D) storyboards
• E) designer models

---

Definitions:

Nominal Cost

The cost expressed in current monetary terms without adjustment for inflation, often contrasted with real cost.

Expected Inflation

The anticipated rate at which the general level of prices for goods and services will rise over a period.

Internal Rate

Often referred to as the internal rate of return (IRR), it is the discount rate that makes the net present value (NPV) of all cash flows from a particular project zero.

Net Present Value

A financial metric used to evaluate the profitability of an investment or project, calculated by subtracting the present value of cash outflows from the present value of cash inflows over a period of time.