Which of the Following Is an Example of a Product

question 121

Multiple Choice

Which of the following is an example of a product innovation?

• A) a firm launching a new flavour to its existing range of candies
• B) a firm allowing customers to mail the desired designs of goods
• C) a firm introducing a new online shopping model
• D) a firm introducing new technology to ease the installation process
• E) a firm changing its line of business from manufacturing automobiles to producing music

---

Definitions:

Price

The price one must pay to obtain a good or service.

Quantity Supplied

Refers to the amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Contact Lenses

Thin optical lenses worn directly on the eyes to correct vision or for cosmetic purposes.

Quantity Supplied

The total amount of a good or service that producers are willing to sell at a given price over a specified period.