The Process of Creating New or Improved Goods and Services

question 74

Multiple Choice

The process of creating new or improved goods and services that customers want or developing better ways to produce or provide goods and services is known as:

• A) invention.
• B) diffusion.
• C) innovation.
• D) differentiation.
• E) integration.

---

Definitions:

Gearsets

Collections of gears working together to transmit power and change speed or direction in mechanical systems.

Double-reduction Axle

An axle configuration in heavy-duty vehicles where two sets of reduction gears are used for greater torque and lower rotational speed.

Differential Carrier

The component within the differential housing that holds the differential gears, allowing for speed variation between a vehicle’s drive wheels.

Lube Pump

A mechanical device used to distribute lubricant under pressure to various parts of a machine or engine to ensure smooth operation and reduce wear.