New Scientific Knowledge Mainly Comes from University and Government Laboratories

question 96

Multiple Choice

New scientific knowledge mainly comes from university and government laboratories, not private firms, because

• A) large corporations do not have funds available to channel toward basic research.
• B) government pays scientists higher salaries than do private firms.
• C) entrepreneurs find it difficult to secure venture capital to finance innovation.
• D) basic scientific principles, as such, cannot be patented and do not always have commercial applicability.

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Definitions:

Direct Materials

Raw materials that are directly traceable to the manufacturing of a specific product and included in the product cost.

Electricity

A form of energy resulting from the existence of charged particles, used as a power source.

Assembly Worker

An individual employed in the manufacturing sector whose primary role involves assembling components or products.

Mixed Costs

Expenses that have both a fixed and a variable component, changing with the level of production or sales activity but also including a constant element.