Several intangible assets are listed in Column I. For each question, select the definition of the intangible in Column II which describes the intangible asset. Record your choice on the line preceding the question number. An answer may only be used one time.
Definitions:
Production
The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption.
Constant Returns To Scale
A situation in production where increasing the amount of inputs results in a proportionate increase in the output.
Poorer Grows Faster
An observation in economics that poorer economies tend to grow at a faster rate than richer economies due to the catch-up effect.
Standard Of Living
A level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
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