The Ability to See,conceive,and Create New and Unique Products,services,and Processes

question 38

Multiple Choice

The ability to see,conceive,and create new and unique products,services,and processes is known as

• A) Innovation
• B) Risk taking
• C) Product development
• D) Locus of control

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Definitions:

Economists

Scholars or professionals who study, develop, and apply theories and concepts from economics, and write about economic policy.

Capacity Utilization Rate

A measure of how well a company or economy is using its productive capacity, expressed as a percentage of total potential output that is actually being realized.

Recessions

Periods of temporary economic decline during which trade and industrial activity are reduced.

Gross Investment

The total amount spent on new capital assets, before accounting for depreciation, indicating the level of investment in an economy's productive capacity.