Why Are Business Firms Interested in the Development of New

question 55

Multiple Choice

Why are business firms interested in the development of new products?

• A) The federal government encourages every product manufacturer to spend 1% of revenue on new product development.
• B) New products are necessary to stay in business.
• C) New products keep the warranty and service departments busy.
• D) New products provide the fun that marketing managers need.
• E) Product development provides an opportunity for large tax write-offs.

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Definitions:

Abortion

The termination of a pregnancy before the fetus is capable of independent life.

Congenital Impairments

Physical or cognitive disabilities present at birth, which can result from genetic factors, pregnancy complications, or infections during pregnancy.

Inherited

A trait or property passed down from one generation to another through genetic transmission or legal succession.