The creation of a new product is called
A)a rise in productivity.
B)process innovation.
C)creative destruction.
D)investment.
E)product innovation.

Question

Quizplus · Accepted Answer

The creation of a new product is known as product innovation, which involves the development of new or improved products to meet customer demands or market opportunities. Choices A, B, C, and D are not accurate descriptors of the creation of a new product. A rise in productivity refers to an increase in output efficiency, process innovation involves improving the manufacturing or operational process, creative destruction refers to the replacement of existing products by new ones, and investment refers to providing financial resources to a project or venture.

The Creation of a New Product Is Called