Design Thinking Is

question 13

Multiple Choice

Design thinking is:

• A)a process of repeatable creative problem solving and product development methodology combining real needs and technology
• B)technological processes to solve problems
• C)people-orientated processes to solve problems
• D)a policy for problem solving and product development rejecting real needs and technology

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Definitions:

Twin Deficits

Refers to the situation where a country is running both a fiscal deficit (government spending exceeds revenue) and a current account deficit (imports exceed exports).

Budget Deficit

The condition when a government spends more than its income, requiring it to borrow money or accumulate debt to cover the gap.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, leading to negative balance of trade.

Real Exchange Rate

A measure that adjusts the nominal exchange rate by the relative prices of domestic and foreign goods and services, reflecting the purchasing power of two currencies.