The First Juvenile Execution Occurred in Plymouth Colony, Massachusetts, in 1642.The

question 23

Multiple Choice

The first juvenile execution occurred in Plymouth Colony, Massachusetts, in 1642.The juvenile executed was __________.

• A)Thomas Kent
• B)Thomas Graunger
• C)Thomas Sawyer, who was later used as a character by Mark Twain
• D)Thomas Mayberry

Recognize the importance of adaptation to consumer learning for new products.

Analyze the role of innovation in product development and company strategy.

Understand the concept of brand and product line extensions and their implications.

Evaluate the risks associated with different new-product strategies from an organization's perspective.

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Definitions:

Law of Diminishing Returns

An economic principle stating that as additional units of a factor of production are added to a fixed amount of another factor, the incremental increase in output will eventually decrease.

Thomas Malthus

Thomas Malthus was an 18th-century British economist and demographer, best known for his theory that population growth would outpace agricultural production, leading to widespread poverty and famine.

Resource Availability

The degree to which essential inputs for production, like labor, technology, and raw materials, are readily accessible for economic activities.

Short-Run

A period in economics during which at least one factor of production is fixed and cannot be changed.