Inventions or Innovations from Applied Science or Engineering Research Are

question 108

Multiple Choice

Inventions or innovations from applied science or engineering research are referred to as

• A) scientific discoveries.
• B) theoretical development.
• C) technology.
• D) patents.
• E) dynamic engineering.

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Definitions:

Domestic Opportunity Cost

The cost of forgoing the next best alternative use of a country's own resources.

Comparative Advantage

The principle that countries or entities should produce goods and services where they have a lower opportunity cost compared to others.

Domestic Opportunity Cost

The cost of forgoing the next best alternative when choosing to produce a good or service domestically.