Pierce, an Entrepreneur and Inventor, Developed New Software to Help

question 50

Multiple Choice

Pierce, an entrepreneur and inventor, developed new software to help retail stores manage their inventory. He was able to successfully sell his software to the retail industry. However, certain unscrupulous organizations began producing cheaper versions of the software. This lowered the popularity of the original version. Which of the following factors is affected by the knock-offs?

• A) Organizational suitability
• B) Technological feasibility
• C) Economic viability
• D) Capability development
• E) Market potential

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Definitions:

Price Discrimination

The selling of a product to different buyers at different prices when the price differences are not justified by differences in cost.

Smoot-Hawley Act

A United States legislative act passed in 1930, which raised tariffs on thousands of imported goods, contributing to the severity of the Great Depression.

Import Restrictions

Government-imposed limits or duties on the quantity or value of goods that can be imported into a country.

Military Self-sufficiency

The capability of a nation to produce all necessary military supplies and services internally without relying on foreign assistance.