The act of putting a new product on the market in order to make profits is called
A)invention.
B)innovation.
C)investment.
D)development.

Question

Quizplus · Accepted Answer

Invention refers to the creation of a new product, while innovation is the process of taking an invention and bringing it to market to generate profits. Investment refers to the allocation of resources, while development refers to the process of improving an existing product or creating new products. Therefore, the act of putting a new product on the market to generate profits is best described as innovation.

The Act of Putting a New Product on the Market