The product development process encompasses all steps needed to take a product from concept to market availability. This includes identifying a market need, researching the competitive landscape, conceptualizing a solution, developing a product roadmap, building a minimum viable product, etc.
Answer:
Having a lower opportunity cost of producing a good relative to that of other countries.
Explanation:
Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.
The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.
Also, the principle of comparative advantage asserts that countries can become better off by specializing in what they do best.
This simply means that, any country applying the principle of comparative advantage, would enjoy an increase in output and consequently, a boost in their Gross Domestic Products (GDP).
Hence, comparative advantage in production is achieved by having a lower opportunity cost of producing a good relative to that of other countries.
Answer:
e. The more rapid the growth, the higher the percentage.
Explanation:
When using exponential smoothing for forecasting demand the data pattern should remain stationary. The value of smoothing constant alpha is between 0 and 1. The data used for financing smoothing should be with most recent forecast.
Answer: The answer is b
Explanation:
Since 60minutes = 1 hour
2400 ÷ 60
= 40
The total output of cars increased by 40
The law of comparative advantage states that a country will specialise in producing commodities in which the country has greatest comparative advantage. Therefore a country will produce for export those commodities she can produce cheaply than other countries.
An emerging industry is a group of companies in a line of business formed around a new product or idea that is in the early stages of development. An emerging industry typically consists of just a few companies and is often centered around new technology.
