When Scientists Concentrate on Quality Control and the Development of Design

question 25

Multiple Choice

When scientists concentrate on quality control and the development of design specifications and improved production equipment,it is referred to as

• A) basic R&D.
• B) product R&D.
• C) engineering R&D.
• D) life cycle R&D.
• E) R&D mix.

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Definitions:

Adequate Consideration

Something of value exchanged between parties in a contract, which is fairly sufficient and corresponds to the terms and obligations agreed upon.

Arbitration Clause

A contract provision requiring disputes to be resolved by arbitration rather than in court.

Disguised Gift

A transaction or transfer of property where the true intent is to give the item rather than sell it at its full value.

Nominal Consideration

A token amount in a contract to validate it, which may not necessarily reflect the true value of the contract's subject matter.