Economic Principle: Because of scarcity, people choose. All choices have an opportunity cost.
The overall question I will research to help explore the economic principle of scarcity is: When faced with limited budgets how do technology companies decide what features to develop for future products?
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| SOURCE: Geek Inisder |
The overall question I will research to help explore the economic principle of scarcity is: When faced with limited budgets how do technology companies decide what features to develop for future products?
Sub-Questions:
- How do companies know what consumers will like in a product?/ How do companies predict if an innovation will be attractive to consumers?
- How do companies come up with new ideas for technologies?
- What traits are present in tech innovation failures?
- How does competition affect companies innovation process?
Sources:
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