Multiple Choice
Which of the following resulted from the trade network developed during the Gupta Empire?
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0. Basic Principles of Economics
Introduction to Economics
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following is NOT a way a firm can obtain new products?
A
Developing products through in-house research and development
B
Reducing the price of existing products
C
Licensing products from other firms
D
Acquiring another company that owns the desired products
Verified step by step guidance1
Understand the question: It asks which option is NOT a way a firm can obtain new products. This means we need to identify the option that does not involve acquiring or creating new products.
Analyze each option:
- Developing products through in-house research and development involves creating new products internally.
- Licensing products from other firms means obtaining rights to use products developed elsewhere.
- Acquiring another company that owns the desired products means gaining new products by buying a firm that already has them.
- Reducing the price of existing products does not create or obtain new products; it only changes the price of products the firm already has.
Recall the concept: Obtaining new products typically involves creation (R&D), acquisition (buying firms), or licensing (using others' products). Pricing strategies affect sales but do not generate new products.
Conclude that the option 'Reducing the price of existing products' is NOT a method to obtain new products because it does not involve product creation or acquisition.
Therefore, the correct answer is the option that does not involve product development or acquisition, which is reducing the price of existing products.
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