The Time Period in Which There Was a Shift from an Industrial

question 46

Multiple Choice

The time period in which there was a shift from an industrial economy to an economy based on the value of information is known as the

• A)paradigm shift.
• B)agricultural age.
• C)industrial revolution.
• D)information age.

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Definitions:

Patent Rights

Legal protections granted to inventors or assignees, giving them exclusive rights to use and commercialize their inventions for a certain period.

Double-Declining-Balance

A method of accelerated depreciation where an asset loses value at double the rate of its straight-line depreciation.

Units-Of-Activity

A method for allocating depreciation based on the actual usage, work, or units of production of the asset, rather than passage of time.

Residual Value

The approximate worth of an asset when it reaches the end of its usable life.