________ Involves Taking Apart a Product, Analyzing It, and Creating

question 5

Multiple Choice

________ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor's patents.

• A)Reverse innovation
• B)Reverse engineering
• C)Selective dissection
• D)Redistribution
• E)Creative destruction

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Definitions:

Consume

The action of using up goods and services to satisfy personal or collective wants or needs.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choosing to do one thing over another.

Production Possibilities Schedule

A table or graph that shows the various combinations of two goods or services that an economy can produce using all its resources efficiently.