_____ Is the Ability to Make Something Using Fewer Resources

question 156

Multiple Choice

_____ is the ability to make something using fewer resources than other producers use.

• A)Specialization.
• B)Exchange.
• C)Arbitrage.
• D)Absolute advantage.
• E)Comparative advantage.

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Definitions:

Continuous Innovation

The ongoing process of making incremental improvements or updates to products, services, or processes to maintain competitiveness.

Spontaneous Innovation

The process of creating new and inventive ideas or products without a premeditated plan, often resulting from sudden inspiration.

Quadpacer Interval Timer

A feature commonly found in electric toothbrushes that indicates to users when to switch to cleaning a different quadrant of the mouth.

Discontinuous Innovation

Introduces a product or service that fundamentally changes an industry or how consumers interact with a market, often rendering existing solutions obsolete.