Which of the Following Can Cost a Company Developing a New

question 50

Multiple Choice

Which of the following can cost a company developing a new product a great deal of money?

• A)Making decisions under extreme time pressure.
• B)Failure to be first to market with a promising new product.
• C)Guessing what the customer needs.
• D)Determining whether the new product will sell at a profit.

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Definitions:

Productivity of Labor

A measure of economic performance that calculates the output of goods and services per unit of labor input.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in the creation of innovations and inventions.

Real Wages

Wages adjusted for inflation, representing the true purchasing power of income.

Capital Equipment

Capital equipment consists of tangible assets such as buildings, machinery, and tools that are used in the production process to generate goods and services.