When a Firm Develops a Drastically Simplified Version of a Product

question 12

Multiple Choice

When a firm develops a drastically simplified version of a product due to lack of purchasing power in a foreign market the process is referred to as:

• A) Forward innovation
• B) Backward innovation.
• C) Reshoring
• D) Outsourcing

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Definitions:

Phenotype

The observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.

Actual Characteristics

The real, observable traits or features of an object, person, or concept.

Sex Chromosomes

Chromosomes that determine the genetic sex of an organism, typically denoted as XX for females and XY for males in many species.

Gonads

The primary reproductive organs in animals, which in males are the testes and in females are the ovaries, responsible for producing gametes and hormones.