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In the Teams Competency: IDEO Brainstorms,IDEO Projects Last from a Few

question 74

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In the Teams Competency: IDEO Brainstorms,IDEO projects last from a few weeks to several years,with the average being 10 to 12 months.


Definitions:

Demand Curve

The Demand Curve is a graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at each price level.

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a product and the actual price they pay.

Total Consumer Surplus

The sum of the individual consumer surpluses of all the buyers of a good in a market.

Consumer Surplus

The discrepancy between what consumers are prepared and capable of spending on a product or service and what they actually end up spending.

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