The Main Difference Between the SBIR and the STTR Programs

question 69

Multiple Choice

The main difference between the SBIR and the STTR programs is that the STTR program requires the participation of ________.

• A) an attorney
• B) a venture capitalist
• C) researchers working at universities or other research institutions
• D) a certified public accountant
• E) a government agency in conducting the research

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Definitions:

Economies of Scale

Economies of scale refer to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Marginal Product

The extra output or benefit received from using one additional unit of a resource.

Opportunity Cost

The cost of an alternative that must be forgone in order to pursue a certain action, the benefits you could have received by taking an alternative action.

Marginal Cost

The cost added by producing one more item of a product, a crucial factor in economic decision-making regarding production levels.