Which of the following factors creates a potential market for new products?
A)Rising inflation
B)Affluent consumers
C)Lack of competition among firms
D)Firms suffering from first-mover disadvantages
E)Declining demand

Question

Quizplus · Accepted Answer

Basic and applied research and development discovers new technologies and then commercializes them. Strong demand and affluent consumers create a potential market for new products. Intense competition among firms stimulates innovation as the firms try to beat their competitors and reap potentially enormous first-mover advantages that result from successful innovation.

Which of the Following Factors Creates a Potential Market for New