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16 Aug 2018, 18:44
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C
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Difficulty:
45%
(medium)
Question Stats:
62% (01:41) correct
38%
(01:53)
wrong
based on 480
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Reverse innovation refers to advancements that are first made in the developing world, and then adopted by the developed world. Some economists argue that such innovation enables new technological advancements to be developed and produced at lower cost, thus delivering innovation to the developed world at more affordable prices.
Which of the following, if true, would best support the economists’ argument above?
(A) Many products developed as a result of reverse innovation are affordable.
(B) Customers who purchase products derived from reverse innovation tend to be cost conscious.
(C)Companies that market products originally developed from reverse innovation typically do not add substantial mark-ups to those products.
(D) Reverse innovation only makes up a small portion of all innovation worldwide.
(E) The number of economists who believe products sourced from reverse innovation will grow substantially over the next decade has increased.
Which of the following, if true, would best support the economists’ argument above?
(A) Many products developed as a result of reverse innovation are affordable.
(B) Customers who purchase products derived from reverse innovation tend to be cost conscious.
(C)Companies that market products originally developed from reverse innovation typically do not add substantial mark-ups to those products.
(D) Reverse innovation only makes up a small portion of all innovation worldwide.
(E) The number of economists who believe products sourced from reverse innovation will grow substantially over the next decade has increased.
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16 Aug 2018, 23:14
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Premise: developed countries innovate & outsource the tech to developing nation where stuff is made for cheaper. Economists argue that this process helps in innovating at a cheaper/affordable price.
POE for checking which argument strengthens this claim:
(A) Many products developed as a result of reverse innovation are affordable. - we already know this. Makes the info provided redundant
(B) Customers who purchase products derived from reverse innovation tend to be cost conscious. - out of scope
(C)Companies that market products originally developed from reverse innovation typically do not add substantial mark-ups to those products. - Okay, strengthens the fact the prices are not increased by companies, making it affordable. Not really convinced upto this point of time about option C being the correct answer; moving on...
(D) Reverse innovation only makes up a small portion of all innovation worldwide. - irrelevant, does not talk about prices
(E) The number of economists who believe products sourced from reverse innovation will grow substantially over the next decade has increased. - irrelevant since it does not speak about prices
option C stands.
POE for checking which argument strengthens this claim:
(A) Many products developed as a result of reverse innovation are affordable. - we already know this. Makes the info provided redundant
(B) Customers who purchase products derived from reverse innovation tend to be cost conscious. - out of scope
(C)Companies that market products originally developed from reverse innovation typically do not add substantial mark-ups to those products. - Okay, strengthens the fact the prices are not increased by companies, making it affordable. Not really convinced upto this point of time about option C being the correct answer; moving on...
(D) Reverse innovation only makes up a small portion of all innovation worldwide. - irrelevant, does not talk about prices
(E) The number of economists who believe products sourced from reverse innovation will grow substantially over the next decade has increased. - irrelevant since it does not speak about prices
option C stands.
18 Aug 2018, 12:49
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Why B cannot be the answer?
If customers are cost conscious,they ll always prefer to buy cheaper products and hence support the argument.
What is wrong with my reasoning?
If customers are cost conscious,they ll always prefer to buy cheaper products and hence support the argument.
What is wrong with my reasoning?
