Dynamically Continuous Innovation Involves More Significant Changes in Products Than

question 48

True/False

Dynamically continuous innovation involves more significant changes in products than continuous innovation.

Understand the mechanisms for protecting intellectual property and their role in encouraging innovation.

Grasp the economic implications of innovation and diffusion in the marketplace.

Understand the distinction between invention, innovation, and diffusion.

Recognize examples of product and process innovation.

---

Definitions:

Salaries

Fixed regular payments made by an employer to an employee, typically expressed as an annual sum and taxed as ordinary income.

Tips

Additional money given to service workers for performed services, which is considered taxable income by the IRS.

Tax Liability

The total amount of tax owed to the government by an individual, corporation, or other entity by a specified date.

Income Tax Return

The form or forms used to report income to a federal, state, or local tax authority and to calculate taxes owed.