The Creation of a New Product or Process, Often Facilitated

question 11

Multiple Choice

The creation of a new product or process, often facilitated by the knowledge of engineering and scientific relationships, is known as

• A) invention.
• B) innovation.
• C) application.
• D) sublimation.

---

Definitions:

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive compared to local products.

Trade Deficit

A situation where a country’s imports exceed its exports during a given time period, leading to a negative balance of trade.

Capital

All means of production (mainly plant and equipment) created by people.

Better Paid

Describes a position or job that offers a higher salary compared to others, often reflecting skill level, experience, or demand.