A Pharmaceutical Company Spent a Significant Amount of Money Developing

question 130

Multiple Choice

A pharmaceutical company spent a significant amount of money developing a new drug to combat high blood pressure. The drug did not cause any of the typical side effects usually associated with blood pressure medications. It was forecasted to be a "blockbuster" medication that would achieve over $1 billion in sales. It would also be difficult for other firms to duplicate, at least in the short-run, because of patent protection and the substantial research and development costs required. The introduction of this new drug would best be described as:

• A) Diversification.
• B) Market development.
• C) A breakthrough opportunity.
• D) "Hit-or-miss" marketing.
• E) Market penetration.

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Definitions:

Pluralist Model

A theory in political science and sociology that views power as distributed among many competing interest groups in society, promoting diversity and equality.

Functionalist

A perspective in sociology that emphasizes the importance of each part of society and its necessary role in maintaining the whole.

Conflict Theory

is a sociological perspective that views social life as a competition and focuses on the distribution of resources, power, and inequality.

Congress Representation

The process by which citizens are represented in Congress, the legislative body of the United States, typically through elected officials.