Product Innovations Are More Visible Than Process Innovations

question 12

True/False

Product innovations are more visible than process innovations.

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Definitions:

Soviet Union

A former federal socialist state in northern Eurasia that existed from 1922 to 1991, officially known as the Union of Soviet Socialist Republics (USSR).

Resource Market

A market in which households sell and firms buy resources or the services of resources.

Financial Capital

Refers to the funds provided by lenders (and investors) to businesses to purchase real capital equipment for producing goods/services.