The Stage of New Service or Product Development at Which

question 82

Multiple Choice

The stage of new service or product development at which personnel are trained and some pilot runs can be conducted to look for possible problems in production is called:

• A) design.
• B) analysis.
• C) development.
• D) full launch.

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Definitions:

Market Economy

An economic system where economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.

Command System

A method of organizing an economy in which property resources are publicly owned and government uses central economic planning to direct and coordinate economic activities; socialism; communism. Compare with market system.

Laissez-faire Capitalism

An economic system where government intervention in business and markets is minimal, and the forces of supply and demand are allowed to regulate the economy.

Central Planning

A system where economic decisions, such as the allocation of resources, are made by the government or a centralized authority.