Product Innovation Is a Change in the Appearance or the Performance

question 135

True/False

Product innovation is a change in the appearance or the performance of a product or service, or the creation of a new one.

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Definitions:

Technological Improvement

The innovation or development of new techniques, methods, or devices that increase productivity and efficiency in processes or products.

Labor Force

The total number of people, including both the employed and the unemployed, who are actively seeking and available for work.

Technological Improvement

Refers to advancements in technology that increase productivity and efficiency in the production process, enhancing the quality and capabilities of goods and services.

Capitalist

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.